SpiceJet shares focus after third quarter slides to a loss of Rs. 261 million; turnover increased by 14%

SpiceJet shares are likely to remain in focus during Friday’s trading session after the budget carrier reported a consolidated net loss of Rs. 261.38 crore for the December quarter (Q3FY26), compared to a net profit of Rs. 20.43 crore in the corresponding period last year. The profit after tax (PAT) accrues to the owners of the holding company.Despite falling into the red year after year, the airline’s total revenues increased by 14% to Rs. 1,408 crore in Q3FY26, up from Rs. 1,237 crore a year ago.

On a sequential basis, the company narrowed its losses significantly from Rs. 621 crore reported in Q2FY26. The improvement came on the back of a 78% increase in sales compared to Rs. 792 crore booked in the July to September quarter of FY26.However, December quarter results were affected by higher costs. In its earnings filing, SpiceJet cited the cost of its grounded fleet, higher aviation turbine fuel (ATF) prices, depreciation of the rupee and a one-time impact from changes in labor law as key factors weighing on profitability.

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Operationally, SpiceJet reported an improvement in its domestic market share, which rose from 1.9% in September to 4.3% in December 2025, supported by a 56% capacity expansion and the addition of 16 aircraft. The capacity expansion contributed to a substantial reduction in losses on a quarterly basis.

Looking ahead, the Board of Directors has approved a calibrated fleet expansion plan to scale up to 55 to 60 aircraft for the winter schedule. The airline also plans to increase liquidity by monetizing excess spare parts. In a separate stock exchange filing, SpiceJet said it has applied to list on the National Stock Exchange. Currently, the stock is listed only on the BSE.

On Thursday, SpiceJet shares ended 5.55% lower at Rs. 8.41 pm on the BSE.

From a technical perspective, trendline data suggests the stock appears deeply oversold. The 14-day relative strength index stands at 16.7. An RSI reading below 20 is generally considered heavily oversold, indicating the possibility of a near-term recovery in the stock.

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