Shares of Jet Airways slumped more than 4% in morning trade Friday after the private carrier reported a 91% plunge in standalone net profit for the September quarter. The Naresh Goyal-owned airline posted a 91% fall in standalone net profit at Rs 49.63 crore for the three months to September on account of a deep decline in other income. It had posted a net profit of Rs 549.02 crore in the same period last fiscal. Total sales also declined to Rs 5,758.18 crore in the quarter under review, from Rs 5,772.79 crore in the previous fiscal, Jet Airways said in a regulatory filing Thursday. Other income, which is generally the non-aeronautical revenue, came down by 59% to Rs 131.57 crore in the reporting quarter, from Rs 319.58 crore in the year-ago period, according to the filing.

Source: Hindustan Times December 08, 2017 06:22 UTC