1. Jet Airways Q4 profit tanks 91%

Jet Airways Q4 profit tanks 91%

Jet Airways, the country’s largest full-service airline by market share, reported a whopping 90.73% y-o-y decline in the standalone net profit to Rs 36.8 crore for the quarter ending March 31.

By: | Published: May 31, 2017 8:09 AM
Jet Airways, Jet Airways Q4 profit, full-service airline, domestic sector airlines, airways, indian airlines companies The net sales during the quarter increased marginally by 3.09% y-o-y to Rs 5,449.13 crore when compared to Rs 5,285.64 crore in the corresponding period last year. (Image: Reuters)

Jet Airways, the country’s largest full-service airline by market share, reported a whopping 90.73% y-o-y decline in the standalone net profit to Rs 36.8 crore for the quarter ending March 31, as consequence of substantial increase in fuel cost and decline in the revenue from the international operations due to the slowdown in the gulf countries. The airline reported a net profit of Rs 397.16 crore in the year ago period.

The net sales during the quarter increased marginally by 3.09% y-o-y to Rs 5,449.13 crore when compared to Rs 5,285.64 crore in the corresponding period last year.

The revenue from the domestic sector increased by 9.18% y-o-y to Rs 2,468.4 crore while the same from the international segment decreased by 1.46% y-o-y . Almost 60% of the total revenue of the full service carrier comes from international operations. Revenues from codeshare traffic for the fourth quarter of FY17 rose by 5.3% y-o-y.

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