SpiceJet profit in Q4FY24 was ₹127 crore, the airline had a loss of ₹298 crore in Q3FY24 | SpiceJet’s fourth and third quarter results announced: Airline’s profit in Q4FY24 was ₹127 crore, loss was ₹298 crore in Q3

Debt-ridden airline SpiceJet has released the results for the fourth quarter and third quarter of the financial year 2023-24. The company’s consolidated profit in the January-March (Q4FY24) quarter increased year-on-year (YoY) to ₹127 crore. The company had suffered a loss of ₹6.2 crore in the same quarter a year ago (Q4FY23).

The airline had suffered a loss of ₹298 crore in the October-December (Q3FY24) quarter. In the same quarter a year ago (Q3FY23), the company’s consolidated net profit was ₹110 crore.

Whereas, other companies are currently releasing the results for the first quarter of the financial year 2024-25. There has been a lot of delay in releasing the results of the fourth quarter and third quarter of the airline. The company said that the date of the board meeting for the results of the first quarter of the financial year 2024-25 (Q1FY25) will be informed soon.

Revenue in the fourth quarter stood at ₹1,663 crore
SpiceJet’s consolidated revenue from operations has declined by 18% on an annual basis. Revenue from operations stood at ₹1,663 crore in Q4FY24. Revenue in the same quarter a year ago i.e. fourth quarter of FY23 was ₹2,043 crore.

Revenue in the third quarter was ₹1850 crore
Apart from this, SpiceJet’s consolidated income i.e. revenue in the third quarter of FY24 was ₹ 1850 crore on annual basis. Whereas in the same quarter a year ago i.e. in the third quarter of FY23, the revenue was ₹ 2,263 crore.

Loss of ₹422 crore in financial year 2024
Whereas SpiceJet suffered a loss of ₹ 422 crore in the entire financial year 2024. The airline had suffered a loss of ₹1,512 crore in FY23. At the same time, the consolidated revenue of the company increased to ₹ 6,778 crore in the financial year 2024. Revenue in FY 2023 was ₹8,576 crore.

Consolidated report of the entire company
The results of companies come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in the consolidated financial report, the entire company is reported.

SpiceJet shares rose 7.71% today
Before the results came, SpiceJet shares closed at Rs 55.89 today with a rise of 7.71%. SpiceJet shares have given a return of 82% in the last one year. The market cap of the airline has reached Rs 4.43 thousand crore.