SpiceJet Q1 Results: Airline slips into red with Rs 234 crore YoY loss, revenue falls 36%

Budget carrier SpiceJet on Friday reported a consolidated net loss of Rs 234 crore in the quarter ended June 30, 2025, versus a net profit of Rs 158 crore posted in the year-ago period. The revenue from operations fell 36% on a year-on-year basis to Rs 1,060 crore compared to Rs 1,646 crore in the corresponding quarter of the last financial year.

In the previous quarter, the company had reported a consolidated profit after tax (PAT) of Rs 342 crore while the revenue from operations fell 24% on a sequential basis versus Rs 342 crore in Q4FY25.

The Gurugram-based company’s performance was significantly impacted by geo‐political situation with a neighbouring country and airspace restrictions in key markets, which led to subdued leisure travel demand, the company said in a statement.

The delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation, the filing said.The company’s Earning Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss stood at Rs 18 crore in Q1FY26 compared to Rs 402 crore in Q1FY25. Passenger Revenue per Available Seat Kilometer or PAX RASK stood at Rs 4.74 in the quarter under review. The Passenger Load Factor (PLF) remained at 86%.The airline’s net worth improved to Rs 446 crore, compared to a negative Rs 2,398 crore in Q1FY25. The company attributed this to successful financial restructuring initiatives.

Management commentary

Commenting on company’s results, Chairman and Managing Director Ajay Singh said that the quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions. “Despite these headwinds, SpiceJet continues to demonstrate resilience. We are taking decisive steps to enhance fleet reliability, reduce costs, and expand our network. With India’s aviation and tourism sectors among the fastest‐growing globally, we remain confident of a strong recovery trajectory in the coming quarters,” Singh said.

The earnings were announced after market hours, and SpiceJet shares ended 1.6% lower at Rs 34.45. The stock has been a market laggard witnessing a share price erosion of over 45% over a 1-year period. In 2025, so far the decline has been to the tune of 39%.