Jet Airways shares fly 8% intraday on December quarter profit
The stock gained after the airline reported a record stand-alone quarterly profit of Rs 467 crore for the three months ended December.
- Feb 8, 2016,
- Updated Feb 8, 2016 4:10 PM IST
Shares of Jet Airways rose over 8 per cent after the airline reported a record stand-alone quarterly profit of Rs 467 crore for the three months ended December, driven by 15 per cent domestic traffic growth and lower fuel costs.
The profit reflects a multi-fold growth from Rs 63 crore reported in the year-ago period.
The stock of Jet Airways ended 3.97 per cent higher after hitting an intraday high of Rs 619.00, up 8.43 per cent on the Bombay Stock Exchange (BSE). It has risen 21.84 per cent in the past one year.
The scrip lost 21.34 per cent since January 13, 2016, when it hit a five-year high.
This is the third consecutive profitable quarter for Jet Airways, which is the country's second-largest carrier by the market share. Chairman Naresh Goyal said that had it not been for the forex losses, net profit would have been higher at Rs 515 crore.
However, the airline expects pressure on yields to continue due to competitive challenges in the sector.
Shares of Jet Airways rose over 8 per cent after the airline reported a record stand-alone quarterly profit of Rs 467 crore for the three months ended December, driven by 15 per cent domestic traffic growth and lower fuel costs.
The profit reflects a multi-fold growth from Rs 63 crore reported in the year-ago period.
The stock of Jet Airways ended 3.97 per cent higher after hitting an intraday high of Rs 619.00, up 8.43 per cent on the Bombay Stock Exchange (BSE). It has risen 21.84 per cent in the past one year.
The scrip lost 21.34 per cent since January 13, 2016, when it hit a five-year high.
This is the third consecutive profitable quarter for Jet Airways, which is the country's second-largest carrier by the market share. Chairman Naresh Goyal said that had it not been for the forex losses, net profit would have been higher at Rs 515 crore.
However, the airline expects pressure on yields to continue due to competitive challenges in the sector.