SpiceJet Q1 Results with Market Cap ₹4,366 Crore and Net Profit ₹119 Cr

SpiceJet Q1 Results

.SpiceJet reported its financial results for the first quarter ending June 30, 2024. They earned a total revenue of ₹16,955.16 million. This is less than the ₹20,017.40 million it earned in the same quarter last year, and also less than the ₹17,193.73 million earned in the previous quarter. The total income, including other sources, was ₹20,672.09 million, which is lower compared to ₹22,680.58 million a year ago.

.SpiceJet's operating expenses decreased slightly to ₹19,172.51 million from ₹20,634.96 million last year. .SpiceJet's expenses include costs for aviation fuel, aircraft maintenance, and employee benefits. Despite the lower revenue and income, SpiceJet achieved a profit before tax of ₹1,499.58 million, improving from a loss of ₹4,094.39 million in the previous quarter. The company did not have any exceptional items or tax expenses.

.SpiceJet's earnings per share (EPS) for the quarter are ₹1.90, compared to a loss per share of ₹6.17 in the previous quarter. The total comprehensive income for the quarter is ₹1,504.44 million. SpiceJet’s paid-up equity share capital stands at ₹7,934.05 million.

Source: Here 

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Spicejet Performance Analysis

SpiceJet's financial information shows that the company has a market capitalization of ₹4,366 crore, meaning the total value of its shares is that amount. The current price of one share is ₹55.0. The highest and lowest prices of the stock in the past year were ₹77.5 and ₹30.4, respectively. 

Here's a summary based on the information provided:

Quarterly Results 

SpiceJet had sales of ₹1,425 crore but spent ₹1,856 crore, leading to a loss. Their operating profit was negative, and their operating profit margin (OPM) was -30%. In December 2023, sales rose to ₹1,904 crore, but expenses also increased to ₹2,142 crore, resulting in a smaller loss. 

Here's a summary of the financial data provided:

About SpiceJet

SpiceJet is a low-cost Indian airline based in Gurgaon, Haryana. It was originally founded as ModiLuft in 1994 but was rebranded as SpiceJet by Indian entrepreneur Ajay Singh in 2004. The airline started operating under the SpiceJet name on May 23, 2005.

It has grown to become one of India's significant airlines, connecting 73 destinations worldwide, including 60 in India and 13 international locations. The airline operates mainly from two hubs: Indira Gandhi International Airport in Delhi and Rajiv Gandhi International Airport in Hyderabad. 

SpiceJet's fleet consists of Boeing 737 and Bombardier Dash 8 aircraft. The company also has a subsidiary called SpiceXpress, which focuses on cargo services. As of 2024, SpiceJet is the sixth-largest airline in India by the number of domestic passengers, with a market share of 4%.

The airline has faced financial challenges, with significant decreases in revenue and equity. However, it continues to be a major player in the Indian aviation industry, providing affordable travel options to a broad range of destinations.