SpiceJet Q1 Results: Airline swings to profit of Rs 198 crore from loss YoY on lower expenses

Budget carrier SpiceJet swung to a first-quarter profit on Monday as lower expenses more than offset a fall in revenue.

SpiceJet reported a consolidated net profit of Rs 197.64 crore for the quarter ended June 30, 2023, versus a net loss of Rs 783.72 crore in the year-ago period. The company simultaneously announced its March quarter earnings where it reported a net loss of Rs 6.22 crore.