Penny Airline Stock Under Rs 50 Jumps After Commencing Haj 2025 Operations with Inaugural Flight from Gaya
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24.
On Friday, shares of SPICEJET LTD jumped 5 per cent to Rs 50.45 per share from its previous closing of Rs 48.05 per share. The stock’s 52-week high is Rs 79.90 per share and its 52-week low is Rs 39.91 per share. The stock is up by 26.4 per cent from its 52-week low of Rs 39.91 per share.
SpiceJet Ltd has officially commenced its Haj 2025 operations, with the inaugural flight taking off today from Gaya en route to Medina. This marks the beginning of the sacred pilgrimage for numerous Indian devotees. The airline has announced its plan to operate 45 special Haj flights during the initial phase, connecting key Indian cities including Gaya, Srinagar, Guwahati, and Kolkata directly to the holy destinations of Medina and Jeddah. The first phase of these operations is scheduled to run until May 29, 2025, with subsequent flight commencements from Guwahati on May 3, Srinagar on May 4, and Kolkata on May 16. The return journey for pilgrims is slated between June 13, 2025 and July 11, 2025.
To cater to the increased number of pilgrims, which stands at approximately 15,500 this year – an 18 per cent rise compared to the 13,000 served in 2024 – SpiceJet has strategically inducted two wide-body Airbus A340 aircraft into its fleet. These spacious aircraft, each accommodating 324 passengers, will be deployed on the Srinagar-Medina, Guwahati-Medina, and Kolkata-Jeddah routes. Additionally, a 189-seater Boeing 737 will serve the Gaya-Medina sector. The airline recognises the Haj operations as a significant revenue stream, evidenced by the INR 209 Crore generated from 102 Haj flights operated from seven Indian cities in 2024.
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About the Company
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.
Despite a 35 per cent year-over-year (YoY) drop in sales to Rs 1,237.0 crore, compared to Rs 1,914.4 crore in Q3 FY23e, the company demonstrated a significant financial recovery; EBITDA losses narrowed by 21 per cent YoY to Rs -188 crore, and net profit turned positive at Rs 25 crore, a 108 per cent YoY improvement. This positive shift, alongside a 104 per cent increase in EPS to Rs 0.19, was largely attributed to a 72.3 per cent surge in other income to Rs 417.1 crore, which compensated for the operational revenue decline.
The promoters of the company bought 9,96,14,052 shares and increased their stake to 33.47 per cent in March 2025 compared to December 2024. Additionally, Authum Investment & Infrastructure Limited holds a 2.65 per cent stake and Plutus Wealth Management LLP holds a 2.71 per cent stake in the company as of March 2025.
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24. The company has a market cap of over Rs 6,000 crore.
Disclaimer: The article is for informational purposes only and not investment advice.