SpiceJet’s Chief Financial Officer, Ashish Kumar, has resigned to pursue other opportunities, the airline announced on Tuesday, July 16. Following his departure, Joyakesh Podder has been appointed as the Deputy Chief Financial Officer, effective July 15, 2024.
Podder, a seasoned chartered accountant with over 30 years of experience, has worked with renowned organizations such as PwC, Reliance, Mahindra, Go Air, and previously with SpiceJet, among others in the aviation, hospitality, and telecom sectors, SpiceJet said in an official statement.
“Podder was offered this pivotal role in April 2024 and has now joined the SpiceJet team to lead the finance department and support the company’s strategic financial initiatives,” the company statement read.
On the financial front, SpiceJet’s share price surged over 7% on Monday after reporting a six-fold increase in net profit for the fourth quarter of FY2024. The stock traded up by 7.3% to an intra-day high of ₹60 on the BSE.
The carrier announced a consolidated net profit of ₹127 crore for the quarter ending March 2024, showcasing a significant recovery from losses in previous quarters. The airline had incurred losses of ₹6.2 crore and ₹299 crore in the March and December 2023 quarters, respectively. However, consolidated revenue from operations for Q4 FY2024 saw a 19% year-on-year decline to ₹1,738 crore.