Jet Airways profit slides to ₹49.63 cr

Jet Airways second-quarter profit falls 91% to Rs 49.36 crore

Jet Airways second-quarter profit falls 91% to Rs 49.36 crore

During the quarter, the company reported net sales income of ₹5,626.61 crore as compared to ₹5,453 crore in the same period past year.

Net profit for the quarter ended 30 September came in at Rs49.63 crore, compared with a profit of Rs549 crore in the year-ago quarter. The total sales of the country's second-largest airline also declined to Rs 5,758.18 crore in the quarter under review, from Rs 5,772.79 crore last fiscal, Jet Airways said in a regulatory filing today.

Income on this account stood at Rs 190.22 crore in the quarter, the airline said.

Later, in a release, the airline said the group reported a net profit of Rs 71 crore for the second quarter of this fiscal.

The fall in the profit has been attributed to the inability to offset the rise in jet fuel prices. Meanwhile, the expenses rose to Rs 5,709 crore as opposed to Rs 5,224 crore seen for the same period in the previous financial year, as per a BSE filing. But other income slumped 59% to Rs 131.57 crore.

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