SpiceJet appoints Joyakesh Podder as Dy Chief Financial Officer as CFO Ashish Kumar resigns

Joyakesh Podder is a Chartered Accountant with over 30 years of experience in organizations such as Reliance, PwC, Go First, Mahindra, etc

By  Storyboard18Jul 17, 2024 10:49 AM
SpiceJet appoints Joyakesh Podder as Dy Chief Financial Officer as CFO Ashish Kumar resigns
SpiceJet reported a six-fold jump in its standalone net profit of Rs 119 crore for the Q4 FY2024

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.

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.

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.

First Published on Jul 17, 2024 10:49 AM

More from Storyboard18

Agency News

Cheil India transforms into Cheil SWA Group

Cheil India transforms into Cheil SWA Group

Agency News

Publicis acquires Adopt, a brand building company at the center of sport, athletes and culture

Publicis acquires Adopt, a brand building company at the center of sport, athletes and culture

Advertising

82.5 Communications India win Tata Consumer Products' creative mandate

82.5 Communications India win Tata Consumer Products' creative mandate

Advertising

Rediffusion Kolkata wins the creative mandate of FMCG brand Prabhuji

Rediffusion Kolkata wins the creative mandate of FMCG brand Prabhuji

Brand Makers

Rise of online courses for creators and dreams of digital fame meeting hard realities

Rise of online courses for creators and dreams of digital fame meeting hard realities

Advertising

Spikes Asia 2025: Leo Burnett, McCann Worldgroup, Ogilvy and Havas take Grand Prix home

Spikes Asia 2025: Leo Burnett, McCann Worldgroup, Ogilvy and Havas take Grand Prix home

Advertising

PSUs fuel 'Reverse Auction' menace, undermining media ethics and agency value

PSUs fuel 'Reverse Auction' menace, undermining media ethics and agency value

Advertising

Meta’s big India play: Boosting media agencies with AI, Reels, and Messaging

Meta’s big India play: Boosting media agencies with AI, Reels, and Messaging