Operationally, however, SpiceJet Q4FY24 revenue was Rs 1,571.2 crore, down from Rs 2,145 crore reported in the year-ago quarter.
That said, SpiceJet airline reported a 72.4 per cent year-on-year (Y-o-Y) reduction in its consolidated net loss to Rs 418.3 crore for FY24, amid ongoing cash crunch. This marks the sixth consecutive year the airline has posted a loss.
The budget airline was last in the green in 2017-18, when it posted a consolidated net profit of Rs 557.4 crore.
"Losses over the last few years have been primarily driven by adjustments on account of the implementation of Ind AS 116 (new accounting standard that came into force in 2019), adverse foreign exchange rates, operational disruption during Covid-19, followed by sub-optimal operations due to liquidity constraints faced by the Group," SpiceJet said in a statement.
On the bourses, shares of SpiceJet surged 7.7 per cent on Monday, ahead of the results. With today's rally, the stock has rallied 15 per cent in two days. By comparison, the BSE Sensex is up 0.4 per cent during the period.
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