The shares of this air transport services provider came into focus in Monday’s trading session after the promoter sold over 1 percent stake in the company for Rs 52.3 crore.
Stock Performance
With a market capitalization of Rs 5,955.99 crore, SpiceJet Ltd fell over 2 percent and made an intraday low of Rs 44.15 per share compared to its previous closing price of Rs 45.48 per share. The shares reiterated from the day’s low and were trading at Rs 46.47 which is 2 percent higher than the previous close.
What Happened
Spicejet’s chairman and managing Director Ajay Singh sold over 1 crore equity shares that represent a 0.9 percent stake in the company on March 13. These shares were sold at an average of Rs 45.34 each share, amounting to a total transaction value of ₹52 crore.
Company Overview
SpiceJet Limited provides air transport services for passengers and cargo, with segments in freighter & logistics, air transport, and other services. It operates domestic and international routes with an integrated cargo network spanning 53 domestic and 12 international destinations. Additional services include foreign exchange and travel assistance, and its subsidiaries are SpiceJet Merchandise Pvt. Ltd. and Canvin Real Estate Pvt. Ltd.
Financial Performance
Looking at the financials, SpiceJet reported a 35 percent decline in its revenue from Rs 1,904 crore to Rs 1,231 crore in Q3 FY25. The net profits however stood at Rs 25 crore when compared to a loss of Rs 301 crore during the same period last year.
Written by Shwetha Sairam
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