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Mumbai : SpiceJet, considered the most affordable airlines in the aviation sector, has released its quarterly report on Saturday. It has been said in this report that the company has gained almost 3 times in the March quarter of the last financial year 2024-25. With this increase, this amount has reached 324.87 crores. The airline has informed the stock market that the company’s net profit in the fourth quarter of FY 2023-24 was 119 crore.

SpiceJet reported that his operational revenue declined 16 percent to Rs 1,446.37 crore in the quarter under review, which was Rs 1,719.3 crore in the fourth quarter of 2023-24. In FY 2024-25, SpiceJet recorded an integrated net profit of Rs 58.74 crore, while it suffered a loss of Rs 409 crore in the last financial year. During this period, the operational revenue declined by 25 percent to Rs 5,284 crore, which was Rs 7,050 crore in 2023-24.

The airline said in a statement that it recorded the highest quarterly profit of Rs 319 crore in the fourth quarter of the last financial year and the entire year net profit was Rs 48 crore, which is the first in 7 years, which underlines the success of its financial and operational change strategy.

The promoter group has completed an equity investment of Rs 500 crore, including the final installment of Rs 294.09 crore in the fourth quarter of the previous financial year. This reflects the company’s long -term approach and its strong belief in capacity.

SpiceJet Chairman and Managing Director i.e. CMD Ajay Singh has said that SpiceJet has given great results, which has improved significant improvements in our operational and financial reports. Entering profit throughout the financial year after the second quarter and seven years in consecutive consecutive years is a reflection of our team’s untiring efforts, the constant confidence of our passengers and the firmness of our brand. He said that with strong bookkeeping, new confidence of investors and continuous network expansion, SpiceJet is in good condition for continued growth.

Ajay Singh has said that although the revival of our stagnant fleet due to complex supply chain categories and engine overhaul challenges has taken longer than estimated, now the speed is being made clearly. Our partnership with world class OEMs and MROs such as Standard Ayro and Carlile Aviation is becoming fruitful, and engine overhaul is underway. Overhaled engines are now coming back, we expect a steady increase in operational capacity in the coming weeks.

Now Air India also announced, the company will give so much compensation to Ahmedabad plane crash victims

He said that the cardiovascular tragedy of the Air India aircraft accident has influenced everyone deeply. The CMD of SpiceJet has said that we have condolences to the people affected by the Air India aircraft accident in Ahmedabad. We have condolences to the families and loved ones of those killed in this disastrous accident. The entire aviation community stands together in this hour of grief.

(With agency input)