On Wednesday, Morning report Jet Airways slipped about 4.6% trade on the NSE. The report says 95% fall in net profit (consolidated) at Rs 23 crores in the last three months ended March 2017, the higher fuel price and lower fares weighed down and took a toll on its bottom line. It says that airline flew 7.02 million passengers in the January- March quarter of 2017, and had a net profit of Rs.426 crore in March ended in 2016.
They were trading at 1.7% lower at Rs.451.85, which hit a loss of Rs.438.25 and a high of Rs.457 trade in today. At present, they recouped some losses. The revenue raised over 3% to Rs.5, 728 crore in the Q4 of 2016.
7.2% where the estimated margin, but it was lower than EBITDA margin of 6.7%, it was due to increased fuel and maintenance costs. Fuel cost up by 58.6% at Rs. 1,700 on a Yoy basis, maintenance cost up by 56% at Rs.492 crore.
Naresh Goyal, Chairman of Jet Airways said the domestic and international market were both challenging in the last year. The company reduces Rs.1, 902 crores debts with despite weakening demand, especially in Gulfs and certain international markets.
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