Fleet expansion as well as accelerated operational-growth led budget carrier SpiceJet to report a net profit of ₹26 crore during the third quarter of 2024-25.
The airline released its financial numbers for Q3FY25 late on Tuesday night. SpiceJet had reported a net loss of ₹300 crore for the corresponding period of last fiscal. Accordingly, the airline’s total revenue surged 35 per cent to ₹1,651 crore on a year-on-year basis.
SpiceJet credited the growth to strong passenger demand, improved yields and enhanced operational efficiency.
As per the airline, the Passenger Load Factor (PLF) stood at 87 per cent.
₹3,000-crore QIP
Besides, SpiceJet said the ₹3,000-crore Qualified Institutional Placement (QIP), which saw participation from leading global investors, has “significantly strengthened its financial position”.
The QIP, the airline said, has enabled the resolution of major legacy liabilities, fleet expansion and accelerated operational growth.
“For the first time in a decade, the company has turned net-worth positive – an important milestone that underscores the success of our turnaround strategy,” said Ajay Singh, Chairman and Managing Director, SpiceJet.
“The overwhelming response to our QIP and the trust of global investors, combined with operational resilience and financial discipline, has set the stage for sustained growth.”
According to Singh, the airline has significantly strengthened its balance sheet, resolved key disputes and is continuously expanding our fleet.
“We are in discussions with OEMs for advanced deliveries of aircraft and are actively exploring both organic and inorganic growth opportunities.”