SpiceJet Q4 Profit: SpiceJet posts record Q4 profit, marks first annual profit in seven years, ET TravelWorld
Advt
By ,
ETTravelWorld
Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETTravelWorld industry right on your smartphone! Download the ETTravelWorld App and get the Realtime updates and Save your favourite articles.
SpiceJet has reported its highest-ever quarterly profit of INR 319 crore for the fourth quarter of FY25, a significant increase from INR 26 crore in the previous quarter. The airline also recorded a net profit of INR 48 crore for the full fiscal year, marking its first annual profit in seven years.Operating revenue rose by 17.6 per cent quarter-on-quarter to INR 1,942 crore, while EBITDA grew from INR 209 crore in Q3 to INR 527 crore in Q4. The airline achieved a passenger load factor of 88.1 per cent , signalling strong demand, while RASK stood at INR 5.66.For the full year, SpiceJet posted total revenue of INR 6,736 crore. Though down from INR 8,497 crore in FY24, the airline managed to improve profitability through cost controls and higher operational efficiency. Passenger RASK increased 9.3 per cent year-on-year, reaching INR 6.60.The airline's net worth turned positive in Q3 FY25 and rose to INR 683 crore by the end of the year, aided by a INR 500 crore equity infusion by the Promoter Group. The final tranche of INR 294.09 crore was received in the fourth quarter.In Q4, the airline added 24 domestic routes under its Summer 2025 schedule, including new destinations Tuticorin, Porbandar, and Dehradun. The carrier also launched special Haj operations from Srinagar, Guwahati, Gaya, and Kolkata, and resumed international operations with Kathmandu as the first destination of FY26.Ajay Singh, Chairman and Managing Director of SpiceJet, acknowledged the tragic Air India crash in Ahmedabad, offering condolences to the affected families.Singh added, 'Posting a profit for the second consecutive quarter and for the full financial year after seven years is a reflection of the tireless efforts of our team… With a strengthened balance sheet, renewed investor trust and continued network expansion, SpiceJet is well-positioned for sustainable growth.'The airline has also renewed its IATA Operational Safety Audit (IOSA) certification and received credit rating upgrades. Engine overhauls, in partnership with StandardAero Inc. and Carlyle Aviation, are underway to restore grounded fleet capacity.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Hiring an offshore team in India? Here's how you can manage the pay outs
India has emerged as one of the key destinations for international hiring, drawing the attention of foreign companies seeking to expand their global reach and optimise operations. The country offers several advantages – a vast and highly skilled talent pool particularly strong in sectors like technology, engineering, and finance, competitive labour costs that present significant operational efficiencies, and a large English-speaking workforce that facilitates seamless communication and integration into multinational teams. Our robust digital infrastructure and adaptability to remote work models are further advantages. But, a major challenge faced by foreign entities is understanding the basics of our labour laws and regulatory landscape. While direct employment of full-time staff without a local legal entity is generally restricted under Indian law, effective and compliant solutions are readily available. Read on to know how you can hire and pay remote workers in India. Foreign companies have several ways to pay their employees in India, each with its own implications. These include: Establishing a local legal entity: This option allows a foreign company to directly employ workers under its own registered entity in India. This option is reserved for larger enterprise businesses looking to hire large, permanent teams in a country. However, setting up a legal entity can be a time-consuming and costly process. It also necessitates managing local payroll, benefits administration, and ensuring ongoing compliance with both national labour laws and those of the state(s) that you operate in. Partnering with a global employment partner: Many foreign businesses opt to work with an Employer of Record (EOR) or a similar global employment provider. An EOR legally employs workers on behalf of the foreign company, eliminating the need for the latter to establish its own entity in India. This solution handles payroll processing, benefits administration, tax filings, and all aspects of legal compliance, offering a streamlined and secure approach to global employment. Engaging workers as independent contractors: In certain scenarios, businesses may pay workers in India as independent contractors to avoid hiring full-time employees. This model is generally suitable for short-term projects or when the individual operates a legitimate self-employment business. It is important to note that Indian laws do not favour misclassifying employees as contractors to avoid providing benefits. Companies must ensure the working relationship genuinely aligns with contractor guidelines to prevent legal disputes and penalties. All payments to employees in India must be made in Indian Rupees (INR). While contractors may receive payments in other currencies if they possess foreign currency accounts, paying in local currency is generally recommended to avoid complications. India has a dual income tax regime. A newer system offers reduced tax rates but removes certain exemptions, while the older regime allows employees to retain exemptions in their salaries. Employees can choose the option that best suits their financial situation. The tax brackets for the old regime (with exemptions) are: 0% for income below INR 2,50,000 5% for income from INR 2,50,000 to 5,00,000 20% for income from INR 5,00,000 to 7,50,000 20% for income from INR 7,50,000 to 10,00,000 30% for income from INR 10,00,000 to 12,50,000 30% for income from INR 12,50,000 to 15,00,000 30% for income above INR 15,00,000 The new tax brackets (with no exemptions) are: 0% for income below INR 2,50,000 5% for income from INR 2,50,000 to 5,00,000 10% for income from INR 5,00,000 to 7,50,000 15% for income from INR 7,50,000 to 10,00,000 20% for income from INR 10,00,000 to 12,50,000 25% for income from INR 12,50,000 to 15,00,000 30% for income above INR 15,00,000 Certain components of an employee's compensation package are subject to different tax treatments: Fully Taxable: Basic salary (including commissions for sales people), bonuses, profit-sharing earnings, personal expense reimbursements and benefits converted to pay such as unused leave time. Partially Taxable: Allowances such as transport/conveyance (exempt up to INR 19,200 per year), medical allowance paid to employees who need to take time for extended illness or to care for sick family members (exempt up to INR 15,000), and house rent allowance provided to employees to assist with living expenses (partially exempt for renters, with limitations varying by city and income). Tax-Exempt: A few allowances are completely tax-exempt, but these are generally limited to specific government, judicial, or international organisation employees. Per Diem: Reasonable per diem allowances are typically not considered taxable income, allowing employees to keep any unspent portion tax-free. However, companies must avoid providing unusually large per diem amounts as a means to circumvent standard payroll procedures. It is also important to distinguish between allowances (predetermined amounts for specific uses) and reimbursements (money returned for expenses initially covered by the employee), as their tax treatment can differ. Employers in India are generally required to make at least three key payroll deductions: Employees' Provident Fund (EPF): This is a government-run retirement investment scheme. Companies with more than 20 employees typically require eligible employees (earning less than INR 15,000 per month in salary) to contribute 12% of their eligible salary to EPF. Employers match this 12% contribution. Employees earning more than INR 15,000 may participate voluntarily. The eligible salary for EPF calculation includes basic income, dearness allowance, and retaining allowance. Employees' Pension Scheme (EPS): Employees do not directly contribute to EPS. Instead, 8.33% of the employer's 12% contribution (capped at INR 1,250 per month for workers earning up to INR 15,000) goes towards EPS. Employees' Deposit Linked Insurance Scheme (EDLI): This scheme provides life insurance for private sector employees. Employers are required to contribute 0.5% of the employee's basic salary to EDLI. Employees are not required to contribute. Employers may opt for an alternative life insurance plan, provided its benefits are equivalent to or better than EDLI. Minimum wage in India varies significantly by state and industry. While a national minimum wage of INR 176 per day exists for certain sectors, state-specific rates often apply. Salaries for remote workers are generally competitive with global standards. Overtime pay regulations also vary by state and industry. Employees working beyond their stipulated contract hours may be entitled to overtime compensation, typically at a higher rate. The specific rates and eligibility depend on factors such as the type of work, usual working hours, and the employee's location. In certain industries, employers are required to pay employees an annual bonus, often referred to as 13th-month pay. These payments are due within eight months of the financial year's end and are not universally observed across all industries. Businesses can pay contractors directly in India, primarily in INR, unless the contractor maintains a foreign currency account. While the general principles for managing contractors apply, India has regulations on contractor relationships to prevent misclassification. If a long-term engagement is anticipated, it is generally safer to classify the individual as a full-time employee if the role warrants it, to avoid potential legal issues. When maintaining a contractor relationship, it is crucial to ensure the contractor operates independently, without direct supervision over their work methods or provision of company equipment, to clearly distinguish the arrangement from an employment relationship. Hiring remote employees in India offers substantial advantages for businesses. It allows access to a vast and highly skilled talent pool, enabling companies to recruit top professionals regardless of their physical location. This flexibility can lead to optimised operational costs, increased diversity within teams, and enhanced business resilience. Remote's global employment and global contractor solutions make it easy. With Remote's simple solutions, you can hire, onboard, and pay your remote workers in India easily and quickly, whether they're employees, contractors, or a mix of the two. Contact Remote today at sales@ to learn more about our global employment and global contractor payment solutions for India. Note to the Reader: This article has been produced on behalf of the brand by HT Brand Studio and does not have journalistic/editorial involvement of Mint.
Economic Times
an hour ago
- Economic Times
Sona Comstar plans to manufacture EV magnets in India amid China export curbs
Sona Comstar, India's biggest importer of rare earth magnets, plans to locally manufacture the critical components used in electric vehicles, tapping into a government push to incentivise their production at home as China restricts their exports. China, which produces around 90% of the world's rare earth magnets, put restrictions in April on their exports as part of its response to U.S. tariffs. While the U.S. and China signed a deal this month to speed up approvals of rare earth exports, governments and companies globally are scrambling to look for alternatives. India, which has the world's third-largest car market and its fifth-largest reserves of rare earths, is working on a new program to incentivise magnet production locally to wean off China. Gurgaon-based Sona Comstar, officially known as Sona BLW Precision Forgings, is the first company in India to announce plans to make magnets domestically after the government's program became public. "Being the largest importer of rare earth magnets, we are the single largest affected party in the country. We have to look at India's self-sufficiency on magnets and are working with the government on it," Sona Comstar CEO Vivek Vikram Singh told Reuters in an interview. The company, which supplies gears and motors to car makers such as Tesla and Stellantis, imported 120 metric tonnes of magnets from China in the last financial year. Singh said the company will look at the Indian incentives once they are finalised, and other factors, to determine its investment in the local manufacturing. He said the company has the funds for local manufacturing, citing its five-fold increase in revenue to more than $400 million over the past five years. Any plans to mine and process rare earths would take years to develop, so will not provide an immediate solution to reducing reliance on China. Sona Comstar itself had plans to import 200 tonnes of magnets this year to meet the growing needs of its EV customers which make up about a third of its revenue, Singh said. The U.S. currently accounts for about 40% of Sona Comstar's revenue, ahead of India and Europe. With the recent acquisition of the Indian railways business of Escorts Kubota, the company has diversified beyond automotive and will see the majority of its revenues coming from India this year. For future growth, Sona Comstar is looking at acquiring more customers in China, Japan and South Korea. The plans for growth come amid the sudden death in June of Sona Comstar Chairman Sunjay Kapur, which sent the company's shares lower over fears over its future direction. The company appointed Jeffrey Mark Overly as its new chairman. Singh, however, said this will not change the company's course as it is run by a professional team of executives and has the kind of "management bench strength" needed to overcome crises and disruptions.
Time of India
2 hours ago
- Time of India
No more last-minute surprises: Indian Railways to release reservation charts 8 hours in advance
Starting July 1, Indian Railways is rolling out major changes to its ticketing system aimed at improving transparency, efficiency, and passenger convenience. Among the key updates is a new rule: reservation charts will now be prepared eight hours before a train's departure, rather than the previous four-hour window. This move is expected to help waitlisted passengers by giving them more time to arrange alternate travel if their ticket doesn't get confirmed. For early-morning trains, charts will be prepared the previous night, offering greater clarity and reducing last-minute uncertainty. The Railway Board proposed the changes last week and Railway Minister Ashwini Vaishnaw has directed their implementation "in a phased manner so that there is no disruption". The Railway Board is expected to announce the rollout plan shortly. In an official statement, the Ministry noted that the current system of preparing reservation charts just four hours before departure often leaves passengers uncertain about their travel status. By shifting the charting timeline to eight hours before departure, waitlisted passengers will receive updates much earlier. Read more: 10 favourite Indian destinations for backpacking under INR 800 a day This change is particularly beneficial for those traveling from remote areas or the outskirts of major cities to board long-distance trains. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo The extended window will also give passengers more time to make alternate travel arrangements if their tickets remain unconfirmed. In addition to charting changes, the Ministry of Railways is also modernizing the Passenger Reservation System (PRS). A new high-capacity PRS is being developed by CRIS (Centre for Railway Information Systems) and is expected to be fully operational by December 2025. This upgraded system will be capable of processing 1.5 lakh ticket bookings per minute and handling 4 million enquiries per minute, a significant leap from current capacity. Read more: O-1 Visa vs H-1B Visa: What's the difference between the two The revamped PRS will also offer features like multilingual support, fare calendar view, seat preferences, and dedicated booking windows for students, Divyangjan (persons with disabilities), and medical patients. Another big change comes to the Tatkal ticketing system. From July 1, Tatkal bookings will require Aadhaar verification and OTP-based login, at least for the first 30 minutes of the booking window. This move is aimed at curbing misuse by agents and bots and ensuring fairer access for general passengers. The Railways has also indicated that more strict authentication protocols, like mandatory DigiLocker linkage, will be introduced later in July. Railway Minister Ashwini Vaishnaw has stated that these changes are part of a broader effort to make the PRS 'intelligent, transparent, accessible and efficient.' Early pilot runs of these reforms in select zones have been successful, and the national rollout begins now.
