Jet Airways Swings Into Profit, Q1 Net At Rs 25 Crore

[adskaroseo]

Jet Airways, India's biggest domestic carrier, reported a surprise profit in the June quarter on the back of a higher other income component.

The company reported a quarterly net profit of Rs 24.7 crore over a loss of Rs 123 crore last year. Net sales jumped to Rs 4,330 crore, a rise of 21 per cent against Rs 3,582 crore in the corresponding quarter last year. Other income stood at Rs 124 crore against Rs 41 crore year-on-year.

The company was expected to report a loss of Rs 150 crore and revenues of Rs 4,700 crore.


The company said it suffered a forex loss of Rs 69 crore in the first quarter, sharply higher than a loss of Rs 2.5 crore last year.

Shares in the company jumped post earnings announcement. At 2.04 p.m., it traded 3 per cent higher at Rs 382.65 on the BSE.

visit: Commodity Tips / Agri Tips