Blitz Bureau
NEW DELHI: Low-cost carrier SpiceJet Ltd on August 14 reported a 20 per cent decline in its consolidated net profit at Rs 158 crore in the April-June quarter of the current financial year from Rs 198 crore in the same period of the previous year.
The Ajay Singh-run airline’s revenue from operations in the first quarter fell 15 per cent to Rs 1,708 crore compared to Rs 2,004 crore in the same period last year.
On a sequential basis, net profit after tax rose 24 per cent from Rs 127 crore in the preceding January-March quarter. As part of the ongoing summer schedule for 2024, which starts on March 31 and ends on October 26, SpiceJet has indicated that it will operate 26 per cent fewer weekly flights.
SpiceJet’s Q1 FY25 earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 401 crore, compared to Rs 525 crore in the same quarter a year ago.
“We are pleased to report a profit of Rs 150 crore for Q1 FY 2024-25, which underscores our determination to navigate through uncertainties and is a testament to the hard work and dedication of our team,” SpiceJet said in a statement.
