SpiceJet reported a significant turnaround in its financial performance for the three months ending December 2024. The airline posted a profit after tax (PAT) of Rs 26 crore, a stark contrast to the loss of Rs 300 crore in the same quarter the previous year.
The improvement was driven by a 35% surge in total revenue, reaching Rs 1,651 crore, supported by strong passenger demand, better yields, and enhanced operational efficiency. The Passenger Load Factor (PLF) also stood at an impressive 87%, highlighting the airline’s capacity utilization.
However, while the airline performed well compared to the same period in the previous year, its total revenue in the December 2024 quarter was lower than the Rs 2,149 crore reported in the December 2023 quarter. The revenue for the September 2024 quarter was Rs 1,077 crore, indicating a positive sequential growth from September to December 2024.
This performance signals a notable recovery for SpiceJet, although the company is still facing challenges in reaching pre-pandemic revenue levels.