Jet Airways hits 52-week low
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Jet Airways (India) extended losses to hit a 52-week low of Rs 362, down 3% on BSE in intra-day trade, after it reported a disappointing set of numbers for the quarter ended September 30, 2016 (Q2FY17).
The company reported a flat consolidated net profit at Rs 85 crore in Q2FY16 against Rs 83 crore in Q2FY16. Total revenues grew 3.2% at Rs 5,682 crore on YoY basis.
EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) declined 0.71% to Rs 1,109 crore in Q2FY17 as against Rs 1,117 crore in Q2FY16.
Jet Airway’s standalone net profit during the quarter under review rose 23% YoY to Rs 108 crore, mainly on account of higher other income. In Q2FY17, the company posted other income of Rs 327 crore, which include on profit on sale and leaseback of aircraft. It had other income of Rs 186 crore in year ago quarter.
At 01:58 pm, the stock was down 2% at Rs 365 on BSE, as against 0.24% decline in the S&P BSE Sensex. A combined 1.45 million shares changed hands on the counter on BSE and NSE so far.
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