Daijiworld Media Network - New Delhi

New Delhi, Jun 14: Budget airline SpiceJet on Saturday reported a notable turnaround in its Q4 and full-year financial results for FY25, achieving its first annual profit in seven years despite a steep drop in revenue.

The airline’s revenue from operations for the quarter ending March 2025 fell 16% year-on-year to Rs 1,446.37 crore, down from Rs 1,719.3 crore in Q4 FY24. However, profit after tax (PAT) for the quarter surged nearly threefold to Rs 324.87 crore, up from Rs 119 crore in the same period last year.

SpiceJet attributed the sharp profit jump to stronger passenger yields, high load factors, and effective cost-cutting measures.

For the full financial year, the airline posted a profit of Rs 580.74 crore, a striking recovery from a loss of Rs 409 crore in FY24. Yet, annual operational revenue dropped by 25%, falling to Rs 5,284 crore compared to Rs 7,050 crore the previous year.

Despite the decline in revenue, the airline registered a full-year net profit of Rs 48 crore — its first in seven years — marking a crucial milestone.

Passenger demand remained strong, with SpiceJet reporting an average load factor of 88.1%. Revenue per Available Seat Kilometer (RASK) improved 3.4% year-on-year.

To shore up its finances, the airline received an equity infusion of Rs 500 crore from its Promoter Group, including Rs 294.09 crore in the fourth quarter alone. This helped turn its net worth positive, reaching Rs 683 crore by the end of FY25.

SpiceJet chairman and MD Ajay Singh called it a "significant operational and financial turnaround," adding that the company is now better positioned for long-term growth, with a healthier balance sheet and renewed investor confidence.

Ahead of the results, SpiceJet shares closed 2% lower at Rs 43.81 on the BSE.