EBITDAR (Earnings before interest, tax, depreciation, amortisation and rent) was Rs 645 crore in Q1 FY24 against loss of Rs 789 crore in Q1 FY23.

EBITDA stood at Rs 525 crore in Q1 FY24 against loss of Rs 393 crore in the preceeding quarter this year.

Air Transport Service revenue was Rs 2,002.11 crore (up 10.05% YoY) while that from Freighter & Logistics service was Rs 72.88 crore (down 69.52% YoY) during the period under review.

In Q1 FY24, passenger revenue per available seat-kilometer (RASK) increased by 26% due to increase in yield by 22% & load factor by 4%.

On operational parameters, SpiceJet said that it has maintained strong performance in passenger business with highest industry domestic load factor of 90%. The airline operated 376 charter flights operated carrying 58,379 passengers in the quarter.

Further, the airline also reported audited standalone and consolidated financial results for the fourth quarter and financial year ended 31 March 2023. The company earlier stated that the delay in reporting these financial results was due to ongoing medical incapacitation of a key member of its audit committee.

SpiceJet reported standalone net profit of Rs 16.86 crore in Q4 FY23 as compared with a net loss of Rs 457.97 crore in Q4 FY22. Total revenue from operations jumped 15% YoY to Rs 2,144.86 crore in Q4 FY23.

For FY23, the airline's net loss declined to Rs 1,503.01 crore as against a net loss of Rs 1,721.90 crore posted in FY22. Total revenue surged 35.25% YoY to Rs 8,868.84 crore in FY23.

Ajay Singh, chairman and managing director of SpiceJet, said, I firmly believe in the potential of our airline, and I am pleased to have contributed to its growth by infusing INR 500 Crore into the Company. This infusion will help bolster our efforts in reviving our grounded planes, for which we have been working tirelessly, strengthening our fleet and expanding our cargo operations.”

“Our logistics arm continues to soar. It's exceptional performance, with sustained profits, has been a driving force, contributing to our overall success. We remain focused on adapting to the changing landscape of the aviation industry, identifying and seizing new opportunities, and steering our airline towards greater heights.”

SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme.