SpiceJet share price rises over 5% as Plutus Wealth Management buys 90 lakh shares via bulk deal

The investment firm brought 9,000,000 shares at an average price of ₹46 per share. The total value of the deal is ₹41.4 crore.

The stock climbed 5.29% to ₹48.35 apiece on the BSE at 10:11 am.

Spicejet posted a post-tax profit of ₹26 crore for the quarter ended December 31, 2024, compared to ₹300 crore loss in the year-ago quarter.

Total revenue climbed 35% year-on-year (YoY) to ₹1,651 crore due to strong passenger demand, improved yields and enhanced operational efficiency. Passenger Load Factor or PLF stood at 87%.

"For the first time in a decade, the company 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," its Chairman and Managing Director Ajay Singh said in the release.

The budget airline's net worth was ₹170 crore in Q3 FY25, and it spent ₹170 crore on aircraft grounding.

The Revenue Available Per Seat Kilometre (RASK) was ₹4.57 in the latest December quarter.

"Strong demand and effective network optimisation are expected to drive a double-digit growth in RASKs during the fourth quarter of FY25 compared to the previous year," SpiceJet Chief Business Officer Debojo Maharshi said.

The airlines reported a net profit (after comprehensive income) of ₹26.26 crore and a net loss of ₹270.83 crore during the third quarter and nine months ended December 31, 2024, respectively.

As of December 2024, the low-cost carrier had "negative retained earnings of ₹80,834.09 million, positive net worth of ₹697.32 million, and the current liabilities have exceeded current assets by ₹38,180.56 million," the exchange filing said.