NEW DELHI: SpiceJet, which is attempting to boost funds, on Wednesday reported a revenue of Rs 150 crore for the quarter ending June 2024, down about 26% from Rs 204.5 crore in identical quarter final fiscal. The airline’s scrip closed 2.5% decrease on BSE Wednesday at Rs 55.03, when the broader market was up 0.19%. The airline’s board Wednesday additionally authorized elevating as much as Rs 3,000 crore by a professional institutional placement (QIP).
SpiceJet has been going through a money crunch and has been delaying paying workers and different stakeholders.With operations getting decreased over the previous few months, SpiceJet whole earnings fall to Rs 2,067.2 crore this Q1 from Rs 2,2680 crore in identical quarter final fiscal.
“SpiceJet has already initiated the method of elevating Rs 3,000 crore by a QIP, which is predicted to be accomplished by the tip of September 2024. This contemporary infusion of funds will allow the airline to develop and unground its fleet, settle liabilities,” the airline mentioned in an announcement.
SpiceJet CMD Ajay Singh mentioned: “We’re happy to report a revenue of Rs 150 crore for Q1 FY 2024-25… The upcoming Rs 3,000 crore fundraise by QIP will likely be instrumental in reinforcing our monetary basis… We imagine within the resilience of our enterprise mannequin and stay dedicated to offering our prospects with the perfect flying expertise potential.”
SpiceJet has been going through a money crunch and has been delaying paying workers and different stakeholders.With operations getting decreased over the previous few months, SpiceJet whole earnings fall to Rs 2,067.2 crore this Q1 from Rs 2,2680 crore in identical quarter final fiscal.
“SpiceJet has already initiated the method of elevating Rs 3,000 crore by a QIP, which is predicted to be accomplished by the tip of September 2024. This contemporary infusion of funds will allow the airline to develop and unground its fleet, settle liabilities,” the airline mentioned in an announcement.
SpiceJet CMD Ajay Singh mentioned: “We’re happy to report a revenue of Rs 150 crore for Q1 FY 2024-25… The upcoming Rs 3,000 crore fundraise by QIP will likely be instrumental in reinforcing our monetary basis… We imagine within the resilience of our enterprise mannequin and stay dedicated to offering our prospects with the perfect flying expertise potential.”
