Mumbai: Jet Airways, India's second biggest carrier by market share posted a 26% increase in its July-September standalone net profit to Rs 87.6 crore, helped by a decline in fuel costs and a profit from sale and leaseback of planes. Its subsidiary JetLite which is in the process of merging with the parent posted a loss of Rs 50.3 crore, a large chunk of which was provisioned in the standalone numbers as an exceptional item.
Post the adjustments, Jet's consolidated net profit clocked at Rs 83 crore, according to a statement from the company. On a standalone level, net sales rose 10% toRs 4,855.6 crore. Fuel costs fell 28% to Rs 1,336.6 crore.
Jet clocked a profit of Rs 185.95 crore from sale and leaseback of planes during the quarter, 24% less than a year earlier but enough to provide a 1.14 times push to its standalone operating profit.
29/10/15 The Economic Times
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Post the adjustments, Jet's consolidated net profit clocked at Rs 83 crore, according to a statement from the company. On a standalone level, net sales rose 10% toRs 4,855.6 crore. Fuel costs fell 28% to Rs 1,336.6 crore.
Jet clocked a profit of Rs 185.95 crore from sale and leaseback of planes during the quarter, 24% less than a year earlier but enough to provide a 1.14 times push to its standalone operating profit.
29/10/15 The Economic Times
