Jet scores higher quarterly profit, stocks fly higher
DSIJ Intelligence / 08 Feb 2016
Jet Airways (India) declared its Q3FY16 results on February, 06. The company's top line increased by 7.78 per cent to Rs 5444 crore in Q3FY16 as compared to same period in previous financial year.
Jet Airways (India) declared its Q3FY16 results on February, 06. The company's top line increased by 7.78 per cent to Rs 5444 crore in Q3FY16 as compared to same period in previous financial year. Its total expenditure declined by 1.47 per cent to Rs 4751 crore in Q3FY16 on a yearly basis.
Jet Airways' EBITDA increased by three folds to Rs 630 crore in Q3FY16 as compared to same period in previous fiscal year. The company's EBITDA margin expanded by 820 basis points to 12.73 per cent in Q3FY16 on a yearly basis on account of 27.38 per cent reduction in power & fuel expense during the quarter. Its interest expense reduced by 5.16 per cent to Rs 215 crore and other income increased by 5.03 per cent to Rs 192 crore in Q3FY16 on a yearly basis. Jet Airways' net profit boosted by 7.4 times to Rs 467 crore in Q3FY16 as compared to same period in previous financial year. The company's net profit margin expanded by 733 basis points to 8.58 per cent in Q3FY16 on a yearly basis.
On geographic segment revenue front, Jet Airways earned 56.43 per cent from International segment and remaining 43.57 per cent from Domestic segment during December 2015 quarter.
Considering nine month financials, Jet Airways' revenue increased by 9.74 per cent to Rs 15922 crore in 9MFY16 as compared to same period in previous fiscal year. The company's EBITDA increased by more than six times to Rs 1399 crore in 9MFY16 on a yearly basis. It posted net profit of Rs 776 crore in 9MFY16 against net loss of Rs 85 crore in 9MFY15.
The share price of Jet Airways increased by 8.43 per cent on bourses in early trades; and is trading at Rs 596.25 on an intraday basis.
Jet Airways provides transportation of passengers by air. The company provides scheduled airline with domestic and international operations. It also provides cargo services. Jet operates a fleet of approximately 116 aircrafts, which include Boeing 777-300 ERs/Airbuses; A330-200/300 aircrafts; Next Generation Boeing 737s; and ATR 72-500/600, among others. It offers flights to approximately 73 destinations in India as well as international locations.The company also offers a frequent flyer program, JetPrivilege.
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