Wednesday, 31 May 2017

Jet Airways Flies Low, Slips Nearly 5% Post Q4 Results

Jet Airways slipped as much as 4.6 percent in morning trade on the NSE Wednesday, after the airliner reported nearly 95 percent fall in consolidated net profit at Rs 23 crore in the three months ended March 2017 weighed down by higher fuel prices and lower fares took a toll on its bottom line.

At 09:30 AM; Jet Airways recouped some of the losses but was still trading 1.7 percent lower at Rs451.85. It hit a low of Rs438.25 and a high of Rs457 so far in trade today.

In the fourth quarter of 2016 fiscal, the carrier saw total revenue rise over three percent to Rs 5,728 crore. The same stood at Rs 5,533 crore in the year-ago period, according to a release.

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