SpiceJet Ltd Share Price – NSE /  BSE

Air Transport Service, Small Cap

The headline equity benchmarks pared some gains and traded in positive terrain in morning trade. The Nifty traded below the 24,300 level. IT shares witnessed buying demand for the fifth consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex jumped 456.10 points or 0.58% to 79,561.98. The Nifty 50 index added 129.95 points or 0.54% to 24,273.70.

In the broader market, the S&P BSE Mid-Cap index gained 0.75% and the S&P BSE Small-Cap index rose 0.82%.

The market breadth was strong. On the BSE, 2,236 shares rose and 1,322 shares fell. A total of 152 shares were unchanged.

Buzzing Index:

The Nifty IT index gained 1.87% to 40,472.90. The index rallied 5.26% in five consecutive trading sessions.

Mphasis (up 4.97%), L&T Technology Services (up 4.37%), LTIMindtree (up 3.12%), Coforge (up 2.58%), Tata Consultancy Services (up 2.4%), Wipro (up 2.3%), Persistent Systems (up 2.09%), Tech Mahindra (up 1.77%), HCL Technologies (up 1.35%) and Infosys (up 0.78%) advanced.

Stocks in spotlight :

Spicejet declined 1.51% after the company’s consolidated net profit declined 19.8% to Rs 158 crore during the quarter as compared with Rs 197 crore posted in corresponding quarter last year. Revenue fell 15% to Rs 1,708 crore in Q1 FY25.

Sunteck Realty added 1.48% after the company reported consolidated net profit of Rs 23 crore in Q1 FY25 as compared with net loss of Rs 7 crore in Q1 FY24. Revenue soared to Rs 316 crore in Q1 FY25 as compared with Rs 71 crore in same quarter last year.

Paras Defence and Space Technologies was locked in 5% upper circuit after Controp-Paras Technologies, an associate company of Paras Defence and Space Technologies has received an order from Larsen and Toubro (L&T) valued at approximately Rs 305 crore.

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On quarter on quarter (QoQ) basis, the firm’s net profit jumped 26.02% while revenue from operations shed 1.39% in Q1 FY25.

EBITDAR (profit) stood at Rs 650 crore in Q1 FY25, up 5.52% as against Rs 616 crore posted in Q4 FY24. EBITDA stood at Rs 401 crore in Q1 FY25, registering a growth of 3.89% QoQ.

Operating profit increased by 27% to Rs 393 crore in Q1 FY25 as against Rs 310 crore in Q4 FY24.

The airline continued to lead the industry with the highest domestic load factor of 91%, reinforcing its strong market position and operational excellence.

Ajay Singh, chairman and MD, SpiceJet, said, “The upcoming Rs 3,000 crore fundraise through QIP will be instrumental in reinforcing our financial foundation and positioning SpiceJet for sustained success. We believe in the resilience of our business model and remain committed to providing our customers with the best flying experience possible.

The airline stated that it has already initiated the process of Rs 3,000 crore through a qualified institutional placement (QIP), which is expected to be completed by the end of September 2024. This fresh infusion of funds will be pivotal in enabling the airline to expand and unground its fleet, enhance operational capabilities, settle liabilities and improve its overall market competitiveness. These funds will stabilise the overall operations and allow expansion.

SpiceJet added that it remains focused on its long-term strategy of expanding its domestic and international network, investing in newer, more fuel-efficient aircraft, and leveraging technology to drive innovation and efficiency across its operations.

SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the country's largest regional player operating 63 daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes.

Shares of Spicejet fell 0.36% to currently trade at Rs 54.83 on the BSE.

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Net profit of SpiceJet declined 19.90% to Rs 158.31 crore in the quarter ended June 2024 as against Rs 197.65 crore during the previous quarter ended June 2023. Sales declined 14.14% to Rs 1646.21 crore in the quarter ended June 2024 as against Rs 1917.43 crore during the previous quarter ended June 2023.

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Net profit of SpiceJet declined 26.69% to Rs 149.96 crore in the quarter ended June 2024 as against Rs 204.56 crore during the previous quarter ended June 2023. Sales declined 15.10% to Rs 1565.16 crore in the quarter ended June 2024 as against Rs 1843.63 crore during the previous quarter ended June 2023.

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