SpiceJet returns to profit, aims to raise fresh funds
Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement. Ajay Singh, chairman and managing director of SpiceJet, said, “The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company’s fortunes."
New Delhi: Low-cost airline on Monday reported a sixfold surge in its net profit to Rs 119 crore for the fourth quarter ended March 31, 2024. Its EBITDA (earnings before interest, tax, depreciation and amortisation) during April-June 2024 rose to Rs 386 crore, compared with Rs 344 crore in the year-ago period.Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement.
Ajay Singh, chairman and managing director of SpiceJet, said, “The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company’s fortunes."
He added that SpiceJet is well-positioned to soar even higher in the coming quarters.
“As we move forward, we are exploring opportunities to raise fresh funds to further bolster our growth plans."
Source: Stocks-Markets-Economic Times
