SpiceJet Q4 Results: Budget carrier SpiceJet on Saturday reported a 173 per cent year-on-year (YoY) jump in standalone profit after tax (PAT) at Rs 324.87 crore for the March 2025 quarter (Q4 FY25)—its highest ever quarterly profit., according to an exchange filing.
This also marks the airline’s second consecutive profitable quarter and a strong sign of operational recovery. The airline had posted a PAT of Rs 119 crore in the corresponding quarter last fiscal.
However, revenue from operations dropped 16 per cent YoY to Rs 1,446.37 crore from Rs 1,719.3 crore in Q4 FY24, reflecting a cautious operating environment despite improved earnings.
FY25 profit at Rs 580.74 crore; revenue falls but turnaround strategy holds
For the full fiscal year 2024–25, SpiceJet posted a standalone PAT of Rs 580.74 crore, reversing a loss of Rs 409 crore in FY24. Revenue from operations for FY25 stood at Rs 5,284 crore, down 25 per cent from Rs 7,050 crore the previous year. This is SpiceJet’s first profitable year since FY18 and is seen as a result of sustained cost control, better yields and high load factors.
Passenger Load Factor (PLF) stood at a healthy 88.1 per cent, while Revenue per Available Seat Kilometre (RASK) improved by 3.4 per cent YoY to Rs 5.66, underscoring improved pricing and demand dynamics. The airline’s EBITDA for the March quarter more than doubled to Rs 527 crore.
SpiceJet consolidated profit jumps 12x
On a consolidated basis, SpiceJet reported a record net profit of Rs 319 crore in Q4 FY25—12 times higher than Rs 26 crore reported in Q4 FY24. Consolidated revenue in the March quarter stood at Rs 1,942 crore. For the full year, consolidated net profit stood at Rs 48 crore, reversing a net loss of Rs 404 crore in the previous year.
To support the turnaround, the Promoter Group completed its full equity infusion of Rs 500 crore in FY25, with the final tranche of Rs 294.09 crore infused during Q4. SpiceJet said this underlines investor confidence in the airline’s long-term vision.
Settlements, QIP boost balance sheet; net worth turns positive
The airline said it has successfully settled disputes with several aircraft lessors, including Air Castle, Carlyle Aviation, and others. One major settlement during the quarter resulted in a gain of Rs 522.42 crore, with the lessor agreeing to accept shares worth Rs 428.15 crore as part of the dues settlement.
During the year, SpiceJet also raised Rs 3,000 crore through a Qualified Institutional Placement (QIP), of which Rs 2,699.54 crore has been deployed for dues clearance, maintenance, and operational costs.
As of March 31, 2025, SpiceJet’s net worth turned positive at Rs 683 crore, and equity share capital expanded significantly due to QIP and warrant conversions. The company said it is now better placed to bring grounded aircraft back into service, although global supply chain and engine overhauls continue to pose delays.
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