SpiceJet shares jump over 4% after airline posts Q1 profit

Share

Tweet

Share

Share

Email

Comments

Shares of low-cost carrier SpiceJet jumped sharply after the airline posted a profit in the April-June quarter.

Read More: After Renaming Twitter, Elon Musk Switches Domain To X.Com, Already Functional For Many Users

SpiceJet shares jumped 4.3 per cent to Rs 32.90 at around 11:50 am. It may be noted that the company’s shares have been gaining over the past month, rising over 5 per cent.

Read More: Paytm UPI Lite registers 5 crore transactions so far, total gross merchandise value stands at Rs 280 crore

On Monday, SpiceJet posted a profit of Rs 205 crore during Q1FY24, compared to a loss of Rs 789 crore during the same quarter a year ago.

Read More: Reliance Industries may invest around Rs 14,000 crore in subsidiaries, JVs in FY24

While the company’s revenue fell during the quarter, it was able to post a profit by lower its expenses.