Brands
Welspun Enterprises builds steady gains despite a bumpy quarter
MUMBAI: Concrete numbers met cautious optimism as Welspun Enterprises navigated a softer quarter without losing sight of the long road ahead. Welspun Enterprises Limited reported consolidated revenue from operations of Rs 808.49 crore for the quarter ended December 31, 2025, broadly stable compared to Rs 803.26 crore in the previous quarter and down from Rs 918.96 crore a year ago. Total income for the quarter stood at Rs 827.83 crore, reflecting steady execution amid cost pressures and a challenging operating environment.
Profit before tax came in at Rs 60.28 crore for Q3 FY26, impacted by an exceptional item of Rs 48.86 crore during the period. Net profit after tax from continuing operations stood at Rs 30.74 crore, compared to Rs 98.08 crore in the preceding quarter and Rs 77.05 crore in the corresponding quarter last year. For the nine months ended December 2025, profit after tax rose to Rs 229.99 crore, underlining stronger performance over the longer term despite quarterly volatility.
Operationally, the company maintained healthy fundamentals. Operating margin for the quarter was 19.58 per cent, improving from 17.57 per cent a year ago, though lower than the 21.97 per cent recorded in Q2. Net profit margin for the quarter stood at 4.25 per cent, reflecting the impact of exceptional items, while the nine-month net margin remained robust at 10.05 per cent.
Welspun Enterprises’ balance sheet continued to show resilience. Net worth increased to Rs 2,769.70 crore as of December 31, 2025, from Rs 2,264.62 crore a year earlier. The debt-equity ratio remained stable at 0.70 times, while the current ratio improved to 2.07, signalling comfortable liquidity. The company also reported a debt service coverage ratio of 2.53 times, underscoring its ability to service obligations despite near-term earnings fluctuations.
Earnings per share from continuing operations stood at Rs 1.94 for the quarter, compared to Rs 6.43 in Q2 and Rs 5.64 in Q3 FY25. For the nine-month period, basic EPS rose to Rs 15.93, highlighting the underlying strength of the business beyond a single quarter.
Overall, while Q3 reflected the weight of exceptional costs and execution challenges, Welspun Enterprises’ nine-month performance, margin stability and balance sheet strength point to a company building patiently, even when the terrain gets uneven.
Brands
SpiceJet’s recovery takes flight as market share doubles
Domestic market share jumps from 1.9 per cent in September to 4.3 per cent by December
GURUGRAM: SpiceJet has staged a sharp domestic comeback, more than doubling its market share in just three months as rapid capacity expansion restores the airline’s presence across key routes.
India’s low-cost carrier lifted its domestic market share from 1.9 per cent in September 2025 to 4.3 per cent by December, driven by a 56 per cent rise in capacity during the third quarter following the induction of 16 aircraft.
The capacity surge translated into a broader network, tighter schedules and stronger passenger traction, helping the airline regain lost ground in several high-traffic markets.
Momentum has continued into the current quarter. SpiceJet doubled its available seat kilometres (ASKMs) from about 55 crore to 105 crore, marking a significant strengthening of its operational footprint. Over the full year, the airline plans to more than double capacity again, targeting 220 crore ASKs by winter 2026 and operating over 300 daily flights.
To support the expansion, SpiceJet is working to scale its fleet to around 60 aircraft through a mix of wet and damp leases, alongside the phased return of grounded planes. The airline has also signed a memorandum of understanding for the induction of 10 additional aircraft.
SpiceJet chief business officer Debojo Maharshi, said the rapid rise in market share reflected steady progress in rebuilding capacity and restoring network depth. The airline’s focus, he added, remained on improving reliability, strengthening connectivity and scaling operations in a measured and sustainable manner.
