The shares of SpiceJet rose 5% on Monday after it posted a profit in the fourth quarter of the previous financial year.
The profit for the quarter ending in March stood at Rs 48 crore; in comparison, the company posted a loss of Rs 404 crore in the same quarter of the financial year 2024. The rise in net profit was due to one-offs, higher fares, reduced costs and forex gains.
There was a one-off income of Rs 220 crore owing to the gain on the restructuring of lease liability. In addition, reduction in cost of items like fuel, airport charges and maintenance aided profitability.
However, revenue fell 25% to Rs 5,326 crore in comparison to Rs 7,085 crore posted in the year-ago period. The decline comes on the back of a lower fleet size.
Ebitdar was up 16% to Rs 1,635 crore for the quarter ended March. In comparison, it had posted Rs 777 crore in the same quarter of the financial year 2024.
SpiceJet Share Price
The shares of SpiceJet rose as much as 5% to Rs 46 apiece, the highest level since June 12. It pared gains to trade 3.29% higher at Rs 45.25 apiece, as of 9:20 a.m. This compares to a 0.31% advance in the BSE Sensex index.
It has fallen 16.42% in the last 12 months and 17.15% year-to-date. The relative strength index was at 60.48.
Out of three analysts tracking the company, one maintains a ‘buy’ rating, one recommends a ‘hold,’ and one suggests ‘sell,’ according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.8%.
. Read more on Markets by NDTV Profit.The profit for the quarter ended March stood at Rs 48 crore, in comparison the company posted a loss of Rs 404 crore in the same quarter of financial year 2024. Read MoreMarkets, Business
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