SpiceJet quarterly results and financials

SpiceJet (SPICEJET)₹7.68−0.52%(9 Nov 2026 close)Airline

Key facts

In the Dec 2025 quarter (consolidated), SpiceJet reported sales of ₹1,406 Cr, up 13.8% from Dec 2024, and net profit of −₹262 Cr, down 1,410.0% year on year. For the year to Mar 2025, sales were ₹5,317 Cr and net profit ₹62.09 Cr.

Sales (Dec 2025): ₹1,406 Cr
Net profit (Dec 2025): −₹262 Cr
Sales (FY Mar 2025): ₹5,317 Cr
Net profit (FY Mar 2025): ₹62.09 Cr
EPS (Dec 2025): ₹−1.72
Borrowings (Mar 2025): ₹4,233 Cr

Company filings, consolidated accounts; latest reported quarter Dec 2025

SpiceJet quarterly results

₹ crore unless stated; each column is a quarter.

SpiceJet Quarterly results
	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	2,142	1,999	1,427	1,909	1,733	1,705	913	1,235	1,464	1,118	790	1,406
Expenses	2,160	1,737	1,872	2,145	1,971	1,659	1,289	1,425	1,392	1,202	1,228	1,590
Operating Profit	−15.05	266	−444	−232	−236	49.11	−377	−188	73.14	−82.17	−436	−182
OPM %	−0.7%	13.0%	−31.0%	−12.0%	−14.0%	2.9%	−41.0%	−15.1%	5.0%	−7.0%	−55.0%	−13.0%
Other Income	355	264	298	243	637	371	163	418	493	81.19	43.09	117
Interest	120	123	114	126	102	88.23	88.25	61.11	57.14	63.12	54.10	52.09
Depreciation	225	208	189	184	173	172	158	148	166	170	175	146
Profit before tax	−6.02	199	−450	−300	127	158	−459	20.04	343	−235	−623	−262
Tax %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−20.01
Net Profit	−6.01	198	−450	−299	127	158	−459	20.02	343	−234	−622	−262
EPS (Rs)	−0.09	3.27	−6.55	−4.37	1.63	1.99	−3.56	0.17	2.41	−1.66	−4.41	−1.72

SpiceJet profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

SpiceJet Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5,076	6,180	7,750	9,102	12,356	5,159	6,586	8,862	7,066	5,317	4,777
Expenses	4,544	5,653	7,003	9,111	11,848	4,983	7,513	9,877	7,718	5,759	5,413
Operating Profit	547	544	760	8.02	536	188	−916	−1,008	−640	−440	−627
OPM %	11.0%	9.0%	10.0%	0.1%	4.3%	3.6%	−14.0%	−11.1%	−9.0%	−8.0%	−13.1%
Other Income	211	149	124	79.23	814	829	952	1,026	1,438	1,446	735
Interest	126	66.14	93.16	134	547	484	488	510	468	298	226
Depreciation	180	199	231	256	1,734	1,562	1,294	1,023	752	645	657
Profit before tax	451	428	559	−303	−939	−1,033	−1,748	−1,517	−425	62.19	−777
Tax %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—
Exceptional items	57.08	41.06	10.02	−60.03	−17.01	0.00	−78.12	0.00	−3.01	0.00	−20.01
Net Profit	451	427	557	−302	−938	−1,030	−1,744	−1,514	−424	62.09	−776
EPS (Rs)	7.49	7.12	9.29	−5.03	−15.62	−17.13	−28.97	−25.13	−5.41	0.43	−5.38
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

SpiceJet balance sheet

₹ crore, at each year end.

SpiceJet Balance sheet
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	600	599	599	600	600	601	602	602	783	1,413
Reserves	−1,634	−1,209	−653	−948	−2,173	−3,201	−4,927	−6,434	−5,982	−3,346
Borrowings	1,234	1,159	1,309	1,113	1,101	9,546	8,357	7,370	5,398	4,233
Other Liabilities	2,649	2,444	2,771	4,049	13,347	4,417	5,535	6,242	6,287	4,312
Total Liabilities	2,848	2,994	4,026	4,815	12,875	11,362	9,568	7,780	6,486	6,612
Fixed Assets	1,625	1,619	1,597	1,624	8,711	7,030	5,564	4,001	2,568	2,109
CWIP	0.00	0.00	0.00	0.00	0.00	5.99	5.98	19.96	6.98	9.97
Investments	19.96	140	101	0.00	0.00	0.00	0.00	0.00	0.99	134
Other Assets	1,203	1,235	2,329	3,190	4,163	4,327	3,997	3,757	3,911	4,359
Inventories	66.88	98.86	142	141	182	167	151	163	172	178
Trade receivables	42.92	61.94	85.92	147	294	320	252	160	158	124
Cash & equivalents	106	68.10	147	80.19	42.07	36.05	63.18	36.07	215	261
Total Assets	2,848	2,994	4,026	4,815	12,875	11,362	9,568	7,780	6,486	6,612

SpiceJet cash flow

₹ crore, for each year.

SpiceJet Cash flow
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from operating activity	711	479	1,037	456	1,785	228	1,005	82.06	−596	−1,691
Cash from investing activity	−274	−492	−824	−145	−161	212	−148	549	34.95	−642
Cash from financing activity	−379	−42.99	−110	−364	−1,659	−436	−877	−610	730	2,168
Net cash flow	58.10	−56.09	100	−53.08	−37.03	3.01	−22.03	22.03	169	−164
Capex	158	248	273	200	261	76.75	36.89	0.00	57.80	80.74
Free cash flow	552	230	762	256	1,521	164	970	104	−629	−1,763
CFO / OP %	130.1%	87.0%	138.0%	5,558.0%	340.0%	102.0%	−117.0%	−13.0%	90.0%	396.0%

SpiceJet ratios

Working-capital days and returns, by year.

SpiceJet Ratios
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor days	2	3	3	5	8	22	13	6	7	7
Cash conversion cycle	3	4	4	6	9	23	14	7	8	8
Working capital days	−148	−115	−112	−92	−128	−367	−359	−316	−350	−296
ROCE %	—	122.9%	72.0%	−11.0%	−270.1%	−17.1%	−22.1%	−37.1%	6.0%	28.9%

SpiceJet: frequently asked questions

What are the latest quarterly results of SpiceJet?

For the Dec 2025 quarter, SpiceJet reported sales of ₹1,406 Cr, up 13.8% year on year and net profit of −₹262 Cr, down 1,410.0% year on year. The operating margin was −13.0%.

What is the annual revenue of SpiceJet?

SpiceJet's sales for the year to Mar 2025 were ₹5,317 Cr; over the last twelve months they were ₹4,777 Cr.

What is the net profit of SpiceJet?

Net profit for the year to Mar 2025 was ₹62.09 Cr, and −₹776 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−5.38.

How much debt does SpiceJet have?

SpiceJet reported borrowings of ₹4,233 Cr at Mar 2025, against cash and equivalents of ₹261 Cr.

What is the free cash flow of SpiceJet?

Cash from operations was −₹1,691 Cr in the year to Mar 2025; after capital spending, free cash flow was −₹1,763 Cr.

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