Jet Airways flys on posting net profits of Rs. 397 crores in Q4FY16
DSIJ Intelligence / 26 May 2016
Jet airways on Thursday posted good set on numbers surprising market watchers by posting a net profit of Rs. 397 crore in fourth quarter of FY16. The total income for the company in Q4 rose 3.6 percent at Rs. 5245.3 crore compared to Rs. 5064 crore YoY.
Jet airways on Thursday posted good set on numbers surprising market watchers by posting a net profit of Rs. 397 crore in fourth quarter of FY16. The total income for the company in Q4 rose 3.6 percent at Rs. 5245.3 crore compared to Rs. 5064 crore YoY. The other income was reported at rs. 206 crore versus Rs. 225 YoY.
The firm quarterly results are due to fall in crude prices. The net profits of Rs. 397 crore will definitely excite the investor when compared to a loss of Rs. 1729 crore in the corresponding quarter last fiscal.
The savings is fuel cost was reported at 25 percent as the fuel expenses fell to Rs. 999 crores against Rs. 1,333 crore a year ago during similar period. The EBITDA was reported at Rs. 815.9 crore from EBITDA loss of Rs. 340 crores YoY .
Jet Airways stocks shut the shop on Thursday at Rs. 606 up by almost 1.29 percent from its Wednesday's close. The 52 week high for the stock is at 796 and the 52 week low for the stock is at 248. Over 1 year of period, the stock is up by almost 65 percent and is trading above its 200 days simple moving average indicating bullishness in the stock.
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