SpiceJet, a Indian low-cost airline, has announced its financial results for Q3 and Q4 (October-December) of FY2024. For the quarter, the company reported a net profit of ₹127.13 crore. However, its revenue declined by 15.22% to ₹1,663.52 crore compared to the same period last year. The revenue decline was due to various factors, including higher fuel prices, capacity reduction, and lower yields. The airline’s operational performance was also impacted by the global supply chain disruptions and crew availability issues.
Despite the challenges, SpiceJet’s Q4 performance was better than expected, with the airline’s revenue declining by 12.87% year-on-year. The airline’s profitability was supported by a reduction in operating expenses, which declined by 14.5% year-on-year. SpiceJet’s revenue passenger kilometers (RPKs) for Q4 grew by 14.4% year-on-year, driven by a strong demand for air travel during the winter season. The airline’s shares rose by 2.6% on the news, with investors welcoming the company’s improved profitability.