SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai. File
| Photo Credit: Reuters

Budget airline SpiceJet on Monday reported a net profit of ₹197 crore for the quarter ended June 2023 as compared with a loss of ₹783 crore during the same period the earlier year.

For the same comparative period, the airline’s total income was ₹2,266 crore, while its expenses were ₹2,069 crore.

The airline also simultaneously declared its delayed January-March 2023 result reporting a loss of ₹6.2 crore as compared to a loss of ₹485 crore during the same quarter in financial year 2022. Its total loss for the financial year 2023 stood at ₹1,512 crore as compared to a loss of ₹1,744 crore in the financial year 2022.

The airline in a press statement said that the hiving off of its logistics platform, SpiceXpress, effective April 1, 2023 contributed to the improvement in the airline’s net worth from negative ₹4,288 crore to negative ₹3,232 crore.