New Delhi, 26 February (IANS). The affordable airline company SpiceJet on Wednesday released the financial results of the second and third quarters of FY 2024-25. The third quarter (October-December 2024) recorded a huge decline of 36.30 percent in its consolidated operating revenue on an annual basis. It declined from Rs 1,850.4 crore to Rs 1,178.7 crore a year ago.
The total income in the third quarter on a consolidated basis has reduced from Rs 2156.6 crore to Rs 1,654.2 crore in the same period of the previous financial year. This shows a fall of 23.30 percent.
During this period, despite the increase in the number of domestic air travelers, this decline has come. It is noteworthy that the number of domestic air travelers in the country is increasing from the last eight quarters.
SpiceJet’s net deficit increased to Rs 441.7 crore in the second quarter (July-September) of FY 2024-25. He suffered a loss of Rs 431.54 crore in the second quarter of the last financial year.
The revenue of the budget airline was Rs 817.12 crore in the second quarter, which was Rs 1,425.29 crore in the same quarter of a year ago.
The airline told the stock market that its market share and the number of passengers had also declined a drastic decline. In the second quarter, 9.69 lakh passengers selected his flights and their market share to 2.5 percent. In the second quarter of the previous financial year, the airline won 4.3 percent market share by serving 15.90 lakh passengers.
In the third quarter of the current financial year with festive weather, the airline made 12.67 lakh passengers air and got three percent market share, compared to a market share with 21.84 lakh passengers in the same period a year ago.
The airline’s financial performance saw improvement in the third quarter and managed to earn a net profit of about Rs 25 crore. He suffered a loss of about Rs 300 crore in the same quarter of the last financial year.
SpiceJet Chairman and Managing Director Ajay Singh said that for the first time in a decade, the company’s net worth has become positive. It is an important milestone that “reflects the success of our turnout strategy.”
He said that the past is left behind and now we are focusing strongly on creating a strong, more flexible future for SpiceJet.
-IANS
SKT/Ekde
