The board of private carrier SpiceJet will be meeting on August 31 to consider and approve the financial results of Q4 FY22 and Q1 FY23, a regulatory filing stated on August 23.
"This is to inform you that meeting of the board of directors of the company will be held on Wednesday, the 31st day of August, 2022, inter-alia, to consider and approve: The audited standalone and consolidated financial results of the Company for the fourth quarter and financial year ended March 31, 2022; and the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2022," SpiceJet informed the stock exchanges.
The trading window for dealing in securities of the company shall remain closed for the "designated persons" till September 2, 2022, in view of the declaration of quarterly results, it added.
SpiceJet has drawn questions over the inordinate delay in the release of Q4 FY22 results. The company had, on May 27, said a ransomware attack on IT systems has affected its audit process, and due to this, the results have been delayed.
In the October-December quarter of FY22, the airline had reported a net profit of Rs 23.28 crore, as against a loss of Rs 57 crore in the corresponding quarter of the previous fiscal. The revenue climbed to Rs 2,259 crore, marking a jump of 34 percent as against Rs 1,686 crore clocked in the preceding quarter.
SpiceJet Chairman and Managing Director Ajay Singh, on August 23, said the carrier was scouting for funds from airlines and external parties, and is also considering adding seven more Boeing aircraft to its fleet by December.
Singh added that the airline is doing its utmost to work through the stress that it has faced and the strategy is to raise resources. "We are doing it by way of the government-supported scheme ECLGS, getting new aircraft from Boeing and therefore through the SLB process, exploring options for fundraise… we are exploring all options," news agency PTI quoted him as saying.
The shareholders of SpiceJet, which is a listed company, have approved fundraising of Rs 1,500-2,000 crore, and some of the amounts have already been raised, Singh said.
(With PTI inputs)
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
