SpiceJet flies high on reporting over 2-fold jump in Q3 consolidated net profit

Shares of the company jumped over 12% in today’s trade. 

Positive Q3 numbers 

SpiceJet has reported results for the third quarter that ended on December 31, 2022 (Q3FY23). On a consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 110.12 crore for Q3FY23 as compared to Rs 42.45 crore for the same quarter in the previous year. The total income of the company increased by 5.42% to Rs 2,822.38 crore for the quarter under review as compared to Rs 2,677.34 crore for the same quarter in the previous year.

Share price movement of SpiceJet Ltd

Today, the stock opened at Rs 35.70, with a high and low of Rs 40.75 and Rs 35.70. The stock closed trading at Rs 39.70, up by 12.31%.

In the last 6 months, the shares of the company have given -13% returns and on a YTD basis, the stock has given about 2% returns.

The stock has a 52-week high of Rs 62.70 and a 52-week low of Rs 32. The company has a ROCE of -21.1% with a market capitalisation of Rs 2,393 crore.

About the company

SpiceJet Limited is engaged in the business of scheduled air transport services for the carriage of passengers and cargo. It was among the first private companies that stepped into the Indian aviation sector. Further, in May 2005 Royal Airways changed its name to SpiceJet. The airline was launched with the objective to deliver the lowest air fares with the highest consumer value, to price-sensitive consumers. SpiceJet follows the Low-Cost Carrier (LCC) business model of the most successful LCCs globally.