Jet surprises with size of Q1 loss; pricing pressure hurts
MUMBAI (Reuters) – India’s largest private airliner, Jet Airways, on Friday surprised the markets by posting a much lower loss than expected on better revenue and a one-time gain, but the carrier cautioned high fuel and intense competition hurt performance.
The Mumbai-based airline reported a first quarter net loss of 1.23 billion rupees compared to a Reuters poll of brokerages that had expected Jet to report a quarterly net loss of 2.39 billion rupees.
In the comparable year-ago quarter it had a net profit of 35.2 million rupees. Its April-June total income rose to 35.4 billion rupees from 29.65 billion.
“They have been doing well in terms of topline growth. What they have been witnessing has been a pressure on yields as well as pressure on fuel cost,” said Mahantesh Sabarad, sector analyst at Fortune Equity Brokers. For more visit: Yahoo Finance
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
