- By Aditya Pratap Singh
- Thu, 27 Feb 2025 01:34 PM (IST)
- Source:JND
Spicejet Share Price: Shares of Spicejet Limited, the parent company of SpiceJet plunged over 7% on Thursday despite the company turning profitable in the December quarter. Spicejet reported a profit of Rs 26 crore in the December quarter of the current financial year. At around 1:28 pm, the stock was trading at Rs 45.0, down 6.19 per cent against the last session's closing price of Rs 47.97 per share on BSE.
The stock opened in green at Rs 48.06 per share slightly up against the last session closing value but lost momentum due to heavy selling pressure and went on to hit an intraday low at Rs 44.05 per share.
SpiceJet, which had reported a loss of Rs 300 crore in the same period last year, has reported a profit in the December quarter. The airline attributes the recovery to strong passenger demand, improved operational efficiency and improved yield management.
In the December quarter of the current fiscal, SpiceJet's revenue reached Rs 1,651 crore, which marks a 35% increase over the previous year. During this time, the airline achieved a strong passenger load factor (PLF) of 87%. Also, SpiceJet successfully raised Rs 3,000 crore from qualified institutional investors in the December quarter. The company's market capitalization is now approximately Rs 5,700 crore.
SpiceJet shares decline in the last six months
Despite financial gains, SpiceJet shares have faced challenges. The airline's shares have fallen over 33% in the last six months, from Rs 65.22 on August 27, 2024 to Rs 44.05 on February 27, 2025. In the last year, the stock has fallen almost 35%, from Rs 66.23 on February 27, 2024.
In the last three months, SpiceJet shares have seen a decline of 29%. As of February 27, 2025, the stock has fallen below Rs 45. The company's 52-week high is Rs 79.90 and its 52-week low is Rs 39.91.
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