SpiceJet Posts ₹24.9 Crore Q3 Profit

26 Feb 2025 , 10:32 PM

On February 25, SpiceJet Ltd. went on to announce its financial results for the last two quarters, the September quarter and the December quarter. In Q3 FY25, the airline reported a net profit of ₹24.9 crore, steeply down from the ₹301 crore net profit reported in Q3 last year.

For the first time in a decade, chairman and managing director Ajay Singh said, the company’s net worth is positive. The airline, he added, is now focused on creating a better and stronger future.

Total Income in Q3 was ₹1,650 crore, down from ₹2,148 crore in the same quarter of the previous fiscal. Aviation turbine fuel (ATF) costs for the December quarter stood at ₹167 crore, compared with ₹234 crore in the year-ago quarter. SpiceJet’s accumulated losses stood at ₹8,170 crore, the auditor’s notes said.

While the company and certain subsidiaries are not currently in compliance with numerous laws and regulations, the extent of the potential financial consequences is unclear.

The airline has ₹3,925 crore more current liabilities than its current assets. The auditor flagged material uncertainties that may cast doubt on SpiceJet’s ability to continue to operate as a going concern.