SpiceJet turns net worth positive first time in a decade; reports Q3 PAT at Rs 26 crore

NEW DELHI: Low-cost carrier SpiceJet reported a net loss of Rs 441.7 crore for the July-September quarter but bounced back to profit in the October-December (Q3FY25) quarter. The airline posted a net profit of Rs 26 crore in Q3FY25 on revenue of Rs 1,651 Crore. 

Ajay Singh, Chairman and Managing Director of SpiceJet said that for the first time in a decade, the company has turned net worth positive – an important milestone that underscores the success of our turnaround strategy. 

“The past is behind us, and we are now firmly focused on building a stronger, more resilient future for SpiceJet,” added Singh. 

The airline’s successful Rs 3,000 Crore Qualified Institutional Placement (QIP), which saw participation from leading global investors has significantly strengthened its financial position, said SpiceJet. This has enabled the resolution of major legacy liabilities, fleet expansion, and accelerated operational growth.