SpiceJet shares drop 3% after Q3 swings to loss; stock lowest since 2015

SpiceJet's total income declined 6.6 per cent year-on-year (Y-o-Y) to ₹1,545 crore, while total expenses rose 9.4 per cent YoY to ₹1,787 crore

Shares of SpiceJet Ltd. fell over 3 per cent on Friday after the airline reported a net loss of ₹262 crore in the December quarter of the financial year 2026 (Q3-FY26) amid new labour codes, aircraft grounded for maintenance, and a weaker rupee against the dollar.  

The company's stock fell as much as 3.4 per cent during the day to ₹19.7 per share, a day after it fell over 5 per cent. SpiceJet stock pared losses to trade 2.5 per cent lower at ₹19.9 apiece, compared to a 1 per cent decline in Sensex as of 11:02 AM.  

Shares of the company fell to the lowest level since July 2015 and currently trade at 2.7 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 33 per cent this year, compared to a 2.5 per cent decline in the benchmark Sensex. SpiceJet has a total market capitalisation of ₹3,033.89 crore.   READ STOCK MARKET UPDATES TODAY LIVE

 

SpiceJet Q3 Results 

The budget carrier swung to a ₹262 crore loss in the December quarter, as compared to a ₹20 crore profit in the corresponding period last year. The airline's total income declined 6.6 per cent year-on-year (Y-o-Y) to ₹1,545 crore, while total expenses rose 9.4 per cent Y-o-Y to ₹1,787 crore. On a sequential basis, however, the loss narrowed from ₹622 crore in the September quarter. 

The airline said non-operation of certain aircraft pending maintenance, coupled with prevailing airspace restrictions and currency depreciation, also weighed on performance. It reported a foreign exchange loss of ₹15.6 crore for the quarter arising from the restatement of lease liabilities, compared with a forex gain in the preceding quarter.  ALSO READ | Muthoot Finance shares plunge 12% despite strong Q3; MOFSL stays 'Neutral' 

SpiceJet said it has raised ₹4,172 crore in previous financial years through the issuance of equity warrants and fresh equity shares to non-promoter investors, and is deploying the funds to return grounded aircraft to service, rationalise its fleet and expand into new sectors. Based on its business plans and cash flow projections, the firm said it remains confident of meeting its liabilities as they fall due, and the results have been prepared on a going concern basis. 

Last month, SpiceJet said it will enter Imphal with the launch of its first-ever flight services to the Manipur capital, strengthening air connectivity to the Northeast. Starting February 10, SpiceJet will operate daily flights to Imphal from Kolkata, Guwahati and Mumbai, using Boeing 737 aircraft.