 "Jet Airways gains on strong Q3 results")
Jet Airways (India) has rallied 8% to Rs 619 on the BSE in early morning trade after the company reported a record quarterly profit of Rs 467 crore for the third quarter ended December 31, 2015 (Q3FY16) aided by low fuel costs. The company had recorded a profit of Rs 63 crore in December 2014 quarter.
Total income from operations during the quarter review grew 7.7% to Rs 5,443 crore as compared to Rs 5,051 crore in the corresponding quarter of previous fiscal. The airline’s fuel expenses declined 26.3% to Rs 1,235 crore over the previous year quarter.
Meanwhile, the stock had underperformed the market by falling 23% in past one month against 3.8% decline in the S&P BSE Sensex till Friday.
At 09:29 AM, the stock was up 6.5% at Rs 608 on the BSE. A combined 2.73 million shares changed hands on the counter on the BSE and NSE so far.
Total income from operations during the quarter review grew 7.7% to Rs 5,443 crore as compared to Rs 5,051 crore in the corresponding quarter of previous fiscal. The airline’s fuel expenses declined 26.3% to Rs 1,235 crore over the previous year quarter.
Meanwhile, the stock had underperformed the market by falling 23% in past one month against 3.8% decline in the S&P BSE Sensex till Friday.
At 09:29 AM, the stock was up 6.5% at Rs 608 on the BSE. A combined 2.73 million shares changed hands on the counter on the BSE and NSE so far.
