Shares of SpiceJet have surged 44.86% in three consecutive sessions. The stock is up 65% in one month, and 54% in one year.

SpiceJet is engaged in the business of providing air transport services for the carriage of passengers and cargo. The company reported consolidated net profit of Rs 197.65 crore in Q1 FY24 as against net loss of Rs 783.73 crore recorded in Q1 FY23. Net sales declined 19.1% to Rs 1,917.43 crore in Q1 FY24 over Q1 FY23.

The scrip hit a 52-week high at Rs 63.69 in morning today.