SpiceJet shares jumped 7% during the morning session following the debt-laden airline flew back into the black in the fourth quarter ended March 2024.
On July 15, the debt-laden airline reported its Q3 and Q4 results for the fiscal year 2023–34. After reporting a loss in the third quarter of 2023–24, the carrier reported a six-fold increase in profit in the fourth quarter.
The airline, which is located in Gurugram, reported a net profit of Rs 119.6 crore for the January–March quarter of 2023–24 and a net loss of Rs 300 crore for the September quarter of FY24.
SpiceJet shares were up 6% from the previous close to trade on the BSE at Rs 58.99 at 9:20 a.m.
As of 3:06 pm, SpiceJet shares were trading 3.18% higher at ₹57.65.
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