Low-cost airline SpiceJet has appointed Joyakesh Podder as the Deputy Chief Financial Officer after its CFO Ashish Kumar resigned to pursue “other opportunities”. The airline appointed Podder as Dy CFO of the company with immediate effect on July 15, 2024.
Kumar resigned from the company in less than two years of his appointment.
SpiceJet told stock exchanges that Podder is a Chartered Accountant with over 30 years of experience in organizations such as Reliance, PwC, Go First, Mahindra, etc.
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Podder joined the SpiceJet team to lead the finance department and support the company’s strategic financial initiatives.
On Monday, the Gurugram-based airline reported a six-fold jump in its standalone net profit of Rs 119 crore for the Q4 FY2024. The debt-ridden airline reported a net profit of Rs 17 crore in the same period last year. The total liabilities for the company at the end of the March quarter stood at Rs 11,690.7 crore.
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In January this year, SpiceJet received in-principle approval from BSE for a fund infusion of Rs 2,242 crore and raised Rs 1,060 crore under preferential issues in two tranches.
SpiceJet laid off about 1,500 employees (around 15% of its staff) for want of funds. The airline also reduced its fleet size by two-thirds. It expects to save about Rs 100 crore per year from these measures.