SpiceJet Ltd Share Price – NSE  /  BSE

Air Transport Service, Small Cap

The company’s fund raising is subject to approval of the shareholders of the Company and other applicable regulatory and contractual approvals, as may be required.

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.

The company reported standalone net profit of Rs 119 crore in Q4 FY24, steeply higher than Rs 16.85 crore posted in Q4 FY23. Revenue from operations fell 23.11% YoY to Rs 1571.2 crore during the quarter ended 31 March 2024.

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The Board of SpiceJet at its meeting held on 23 July 2024 has approved raising of funds aggregating up to Rs.3000 crore through issue of equity shares or any other eligible securities to qualified institutional buyers by way of qualified institutional placement.

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SpiceJet will hold a meeting of the Board of Directors of the Company on 23 July 2024.

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Joyakesh Podder has taken over as the head of finance and is being designated as the deputy chief financial officer of the Spicejet with effect from 15 July 2024.

Podder is a chartered accountant (CA) with over 30 years of experience in large organizations like PwC, Reliance, Mahindra, Go Air, SpiceJet etc. in aviation, hospitality and telecom sectors.

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.

The company reported standalone net profit of Rs 119 crore in Q4 FY24, steeply higher than Rs 16.85 crore posted in Q4 FY23. Revenue from operations fell 23.11% YoY to Rs 1571.2 crore during the quarter ended 31 March 2024.

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