Jet Airways reports third consecutive quarterly loss of Rs 1,261 crore : Bulletin: Business Today
Business Today

Jet Airways reports third consecutive quarterly loss of Rs 1,261 crore

Loading the player...

November 13, 2018

Jet Airways reports third consecutive quarterly loss of Rs 1,261 crore on higher fuel, steep rupee

Jet Airways on Monday reported its third consecutive quarterly losses for the quarter ending September, with a consolidated net loss of Rs 1,261 crore, roiled by higher fuel cost that soared 59 percent, and a steep rupee fall that led to a sevenfold spike in forex losses. The airline had posted a net profit of Rs 71 crore in the same period last fiscal. The cash-strapped airline, which is reportedly looking for investors to tide over the liquidity crisis, said its fuel bill jumped 58.6 percent to Rs 2,419.76 crore during the quarter. In the year-ago period, it had spent Rs 1,525.66 crore in fuel cost.

TRAI discusses if WhatsApp, Skype, Viber should be under regulatory regime
Telecom regulator TRAI on Monday issued a long-awaited consultation paper to debate whether Over-The-Top (OTT) services, including Whatsapp and Skype, should be brought under the regulatory regime. The discussion paper titled 'Regulatory Framework for Over The Top Communications Services' is aimed at analysing and discussing "changes that may be required in the current regulatory framework to govern these entities; and the manner in which such changes should be effected", a Telecom Regulatory Authority of India (TRAI) statement said.
Marvel Comics' Stan Lee, creator of Iron Man, Spider-Man, Hulk, dies at 95

Stan Lee, who dreamed up Spider-Man, Iron Man, the Hulk and a cavalcade of other Marvel Comics superheroes that became mythic figures in pop culture with soaring success at the movie box office, died at the age of 95, his daughter said on Monday. As a writer and editor, Lee was key to the ascension of Marvel into a comic book titan in the 1960s when, in collaboration with artists such as Jack Kirby and Steve Ditko, he created superheroes who would enthrall generations of young readers.
Xiaomi sells over 8.5 mn devices during festive sales

Chinese tech major Xiaomi Monday said it has sold over 8.5 million devices in one month during its festive sales, generating gross merchandise value (GMV) of USD 1 billion. This milestone was achieved between October 9 - November 8 and roughly translates to Xiaomi selling over 3 devices per second during this month.Xiaomi said it sold over six million smartphones in this period compared to 4 million smartphones sold during the similar period last year.
India to operate four direct flights every week to Stockholm from next year
Air India plans to operate four direct flights every week between New Delhi and the Swedish capital from next year, a senior official of the national carrier said Monday. Air India presently operates three direct flights to Stockholm every week. Air India launched direct flights to Stockholm in August last year, making the Swedish capital its tenth such destination in Europe.
PepsiCo becomes first company to use inland waterways for container movement
Food and beverages major PepsiCo India Monday said it has become the first company to use the country's inland waterways for container movement by transporting products from its plant in Kolkata to Varanasi. Prime Minister Narendra Modi inaugurated India's first multi-modal terminal on the Ganga river in his parliamentary constituency at Varanasi and received the country's first container cargo transported on inland waterways from Kolkata. PepsiCo India had shipped 16 containers, equivalent to 16 truckloads of products, as part of the pilot project on National Waterway 1.

Indian Railways sends team to Japan to learn clinical efficiency for bullet train

Cleaning trains in seven minutes flat and passengers with minimum baggage are what Indian railway officials are hoping to replicate in the country's bullet train project to ensure the famous clinical efficiency of Japan's Shinkansen trains. Indian officials said the technology apart, the calm efficiency of workforce in Japan was the reason behind the reliability of its high speed network. They are hoping that the 300-odd employees, to be sent to Japan for training, will bring back these lessons for use at home.

More from this section