SpiceJet's profit fell 20% to Rs 158 crore in the first quarter, revenue decreased by 15%

Budget airline SpiceJet has reported a 20% decline in its consolidated net profit in the June quarter. It stood at Rs 158 crore in the first quarter of the financial year 2024-25. The company's profit in the same quarter last year was Rs 198 crore.

The company's revenue from operations in the June quarter declined 15% year-on-year to Rs 1,708 crore from Rs 2,003 crore in the same quarter last year.

Compared to the March quarter, the company's profit after taxes increased by 24%. The company's net profit in the March quarter was Rs 127 crore. The airline has said that the increase in the company's profit on a monthly basis reflects the efforts being made for the airline's recovery.

The country's aviation industry has faced a challenging situation in the recent past. SpiceJet achieved an operating profit of Rs 393 crore during the first quarter. The company's EBITDA stood at Rs 401 crore.