For the quarter ending March 31, 2024

• PAT for Q4 FY2024 reached INR 119 Crore, marking an increase from INR 17 Crore in Q4 FY2023, representing sixfold year-on-year growth
• EBITDA (profit) of INR 386 Crore in Q4 FY2024 compared to INR 344 Crore in Q4 FY2023
• EBITDAR (profit) of INR 616 Crore in Q4 FY2024 as against INR 515 Crore in Q4 FY2023
• SpiceJet achieved one of the highest Passenger Load Factors at 92%

Operating Cost Highlights (in comparison to the same quarter last year)

• Increase in average ATF price by 10%
• Currency depreciation of 2% (INR against USD)

Key highlights for the Quarter ending March 31, 2024

• Capital Infusion: Completed capital infusion aggregating to INR 1,060 Crore under a preferential issue
• Signed a settlement agreement at $ 22.5 million with Export Development Canada (EDC) to resolve $90.8 million (INR 755 Crore) in liabilities
• Settled liabilities aggregating to over US$50 million with various lessors

Current Highlights

• Successfully completed Haj operations from seven cities across India
• Phuket added as the second international destination in Thailand after Bangkok

For the Year ending March 31, 2024

• Narrowed losses by 73% reporting a post-tax loss of INR 409 Crore, compared to a net loss of INR 1,503 Crore in FY2023
• EBITDA of INR 772 Crore as compared to INR (33) Crore in FY2023
• EBITDAR of INR 1,410 Crore as compared to INR 342 Crore in FY2023
• Reported industry's highest load factor of 92% for domestic scheduled flights
Increase in load factor by 1% compared to last year Passenger RASK improved by 8% compared to last year due to increase in yield by 7% and Load factor by 1% SpiceJet improved its Net worth by INR 646 Crore, i.e. 20% in FY2024 as compared to FY 2023

GURUGRAM, July 15, 2024: SpiceJet Ltd. reported a sixfold surge in net profit to INR 119 Crore for the fourth quarter ended March 31, 2024, compared to INR 17 Crore in the same period last year. On an EBITDA basis, the profit for the reported quarter was INR 386 Crore, up from INR 344 Crore in Q4FY23.

For the fiscal year ended March 31, 2024, SpiceJet significantly reduced its losses by nearly 73%, reporting a post-tax loss of INR 409 Crore compared to a net loss of INR 1,503 Crore in FY2023.

In January this year, SpiceJet received in-principle approval from BSE for a fund infusion of INR 2,242 Crore and raised INR 1,060 Crore under preferential issue in two tranches.

"We are pleased to announce a strong financial performance in Q4 FY2024, with net profit surging sixfold to INR 119 Crore compared to the same quarter last year. The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company's fortunes,” said Ajay Singh, Chairman and Managing Director, SpiceJet.

“We are confident that SpiceJet is well-positioned to soar even higher in the coming quarters. As we move forward, we are exploring opportunities to raise fresh funds to further bolster our growth plans and take advantage of the burgeoning demand in the Indian aviation market. We are confident that with our robust strategy and dedicated team, we will continue to soar to new heights and create value for our stakeholders."

About SpiceJet:

SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.