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Jet Airways Q2 net falls 91 per cent to Rs 49.36 crore

08 December 2017

But other income slumped 59% to Rs 131.57 crore.

India's second biggest airline by domestic market share posted a net profit of Rs 46.01 crore compared to Rs 517 crore a year earlier.

Jet Airways share price declined as much as 4.55 percent on Friday after the private carrier reported a 91 percent fall in its standalone net profit year-on-year.

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Income on sale and leaseback of aircraft stood at Rs 190.22 crore in September quarter 2016, the airline said.

It is the tenth successive profitable quarter for the airline backed by growth in capacity, revenues as well as accompanying reduction in non-fuel costs, the airline said in a statement. 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.

The revenue from operations grew three per cent year-on-year to Rs 5627 crore in the quarter that ended on September 30 this year, as against Rs 5453 crore for the same period last fiscal.

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"Jet Airways also derived significant operational and business advantages via synergies with its strategic partner - Etihad Airways, as well as other codeshare partnerships, carrying a growing and significant number of global travellers across its 64 destination network, including gateways at Abu Dhabi, Amsterdam, Paris and London", said he.

Significantly, the Mumbai-based carrier had last month announced a new enhanced cooperation agreement, which primarily deepens the already existing codeshare partnership signed in 2014.

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