This small-cap airline stock engaged in providing low-cost airline services, connecting 73 destinations domestically and internationally, operating passenger and cargo flights with a diverse fleet, jumped 8 percent after increasing its stake up to 2 percent in the company by Plutus Wealth Management LLP.
Stock Price Movement:
With a market capitalization of Rs. 6,227.71 crores, the share of SpiceJet Limited has reached an intraday high of Rs. 49.50 per equity share, rising nearly around 7.80 percent from its previous day’s close price of Rs. 45.92. Since then, the stock has retreated and is currently trading at Rs. 49.45 per equity share.
What Happened:
On March 4, 2025, Plutus Wealth Management LLP acquired a 0.7 percent stake in SpiceJet Limited by purchasing 90 lakh shares at an average price of Rs 46 per share, totaling Rs 41.4 crore. This acquisition was part of a bulk deal, indicating a strategic investment in SpiceJet.
Plutus Wealth Management LLP now holds 2.55 crore shares, which represents almost 2 percent of the total stake in the company. This adds to their ongoing investment in the airline company, reflecting their continued confidence in its growth and prospects.
Recent Acquisition:
Plutus Wealth Management LLP also made bulk purchases of SpiceJet shares in September and October 2024. On September 30, 2024, they bought 85 lakh shares at an average price of Rs 59.95. In October, they acquired an additional 75 lakh shares at Rs 66.70 each. These purchases reflect continued investment in the airline company.
Business Operation:
As of December 31, 2024, SpiceJet operates a total fleet of 63 aircraft, comprising 22 owned planes, 32 under dry lease, and 9 under wet lease. The owned fleet consists of 22 aircraft, including 3 Boeing NGs and 19 Q400s. This diverse fleet structure allows the airline to optimize operations and expand its services while maintaining flexibility in fleet management to meet growing passenger demand.
Operational and Strategic Milestones:
SpiceJet achieved key operational and strategic milestones by successfully raising Rs. 3,000 crore through QIP, attracting top investors. The airline expanded its fleet by adding 10 aircraft, including 3 previously grounded ones, and is working to unground more planes.
Additionally, it strengthened its network by launching 32 new flights for the winter schedule and totaling 60 new routes added since the QIP.
Recent quarter results:
SpiceJet Limited’s revenue has decreased from Rs. 1,904 crore in Q3 FY24 to Rs. 1,231 crore in Q3 FY25, which has dropped by 35.35 percent. The net profit of the company has turned negative into positive, from Rs. -301 crore in Q3 FY24 to Rs. 25 crore in Q3 FY25.
Written By – Nikhil Naik
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