Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Hindu
The Hindu
National
The Hindu Bureau

SpiceJet reports net profit of ₹197 crore in Q1

Budget airline SpiceJet on Monday reported a net profit of ₹197 crore for the quarter ended June 2023 as compared with a loss of ₹783 crore during the same period the earlier year.

For the same comparative period, the airline’s total income was ₹2,266 crore, while its expenses were ₹2,069 crore.

The airline also simultaneously declared its delayed January-March 2023 result reporting a loss of ₹6.2 crore as compared to a loss of ₹485 crore during the same quarter in financial year 2022. Its total loss for the financial year 2023 stood at ₹1,512 crore as compared to a loss of ₹1,744 crore in the financial year 2022.

The airline in a press statement said that the hiving off of its logistics platform, SpiceXpress, effective April 1, 2023 contributed to the improvement in the airline’s net worth from negative ₹4,288 crore to negative ₹3,232 crore.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.