Spicejet Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 6,148.25 Crore) operating in Airlines sector.
The cash-strapped airline announced its revenue for Q2FY25 AT Rs 817.12 crore as against Rs 1425.29 crore reported in Q2FY24. The revenue for Q3FY24 announced at Rs 1140.66 crore as against Rs 1756.6 crore announced in Q3FY24.
The decline in revenue occurred even after a robust surge in domestic travel during the 2 quarters amid rising demand for domestic travel in India for the last 8 quarters.
“Total revenue surged by 35 per cent to Rs 1,651 crore, driven by strong passenger demand, improved yields and enhanced operational efficiency. Passenger Load Factor (PLF) stood at an impressive 87 per cent,” stated the airline via its BSE filing.
The company declared its ATF expense for the December 2024 quarter at Rs 167 crore as against Rs 234 declared in the similar quarter of last year. The airline accomplished a Passenger Load Factor (PLF) of 87%.
“For the first time in a decade, the company turned net worth positive – an important milestone that underscores the success of our turnaround strategy. The past is behind us and we are now firmly focused on building a stronger, more resilient future for SpiceJet,” chairman and managing director Ajay Singh said in a statement.
According to the exchange filing, “during this year, the company has successfully settled multiple outstanding disputes with aircraft & engine lessors, amounting to INR 1700 Crore at INR 1233 Crore, resulting in a financial benefit of INR 467 crore.”
The airline’s successful INR 3,000 Crore Qualified Institutional Placement (QIP), which saw participation from leading global investors has significantly strengthened its financial position. This has enabled the resolution of major legacy liabilities, fleet expansion, and accelerated operational growth, added the exchange filing.
SpiceJet Dividend History
The company never recommended any dividendand bonus shares.
Shareholding
Promoters holding remains steady at 29.13% for December 2024 quarter. FII/FPI decreased holdings from 22.87% to 15.76% for December 2024 quarter. Number of FII/FPI investors remains unchanged at 122 for December 2024 quarter, according to Trendlyne.
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