Economy

Jet Airways Q2 net profit plunges 91%

Jet Airways Q2 net profit plunges 91%

Other income, which is generally the nonaeronautical revenue, came down by 59% toRs131.6 crore in the reporting quarter, from Rs 319.6 crore in the year-ago period, according to the filing.

Ltd, the country's second-largest airline, reported a 91% slump in Q2 profit on Thursday, hurt by higher fuel expenses. It had posted a net profit of Rs 549.02 crore in the same period last fiscal.

The fall in the profit has been attributed to the inability to offset the rise in jet fuel prices. In a later note, the airline said it had made a profit of Rs 190.22 crore previous year on the sale and leaseback of planes.

More news: Geoffrey Rush files defamation suit against Daily Telegraph over 'inappropriate behaviour' claims

Despite an increase in the Brent fuel price, the overall CASK dropped due to the airline's ongoing efforts to improve operational efficiencies throughout its business.

Jet Airways also carried 7.7 percent more passengers at 7.29 million in the September quarter over the same quarter of 2016-17, the release said.

The airline's focus in connecting global travellers as a result of its cooperation with codeshare partners such as Air France-KLM, Virgin Atlantic and Delta Air Lines, drew robust dividends and the airline's percentage of alliance revenues went up by 8% during the recent Quarter. The company also announced the appointment of Kevin Knight on its board, the second nominee from Etihad Airways, thus bolstering the presence of the Abu Dhabi based strategic partner that owns about 25% in Jet. It is expected to further boost connectivity between India and Europe.


  • Most Americans say senior Trump officials probably had 'improper' contact with Russian Federation

    Most Americans say senior Trump officials probably had 'improper' contact with Russian Federation

    About a quarter of conservatives said that the officials likely had improper contacts, while more than 80 percent of liberals did. Democrats and Republicans were starkly divided in their beliefs on the issue.

    Apriem Advisors Takes Position in Allergan PLC. (AGN)

    Allergan plc (NYSE: AGN ) shares are down more than -21.78% this year and recently increased 1.29% or $2.12 to settle at $166.40. Howard Hughes Medical Institute purchased a new stake in shares of Allergan during the 2nd quarter worth about $103,000.

    United Parcel Service, Inc. (NYSE:UPS) Undervalued by 1.1%

    The operating profit margin and gross profit margin can be giving more focus view that is 8.80% and 76.50% respectively. This company shares are 9.53% off its target price of $46.88 and the current market capitalization stands at $61.81B.
  • Former cop who shot unarmed black man gets 20 years in prison

    Former cop who shot unarmed black man gets 20 years in prison

    A federal judge has ruled that a former SC officer committed second-degree murder when he shot an unarmed black motorist to death. It concluded one of the few cases in which a police officer has been prosecuted for an on-duty shooting.
    OSI Systems, Inc. (NASDAQ: OSIS)

    OSI Systems, Inc. (NASDAQ: OSIS)

    Covington Invest Advsr Inc holds 0.11% in Magellan Midstream Partners, L.P. (NYSE:MMP) or 4,120 shares. (NASDAQ: OSIS ). The report further stated that "f$3 ormer employees' statements support our view that OSIS is rotting from the inside".

    Dollar Tree (NASDAQ:DLTR) PT Set at $96.00 by MKM Partners

    It also offers transfer optimization and development process services to integrated device manufacturers and fabless companies. Dollar Tree has a fifty-two week low of $65.63 and a fifty-two week high of $108.07. (NASDAQ:DLTR) rating on Monday, August 7.
  • Cold rain, some wintry weather possible Friday

    Cold rain, some wintry weather possible Friday

    Most of the models show most (if any) accumulation staying north of us in parts of Metro Atlanta and along I-85 in North Georgia. Watch for last-minute forecast changes; if you are using a forecast more than six hours old, it is bad information.

    Walter Investment Management Corp. (WAC) stock returned 22.12% higher in last quarter

    Their average price target spell out an upbeat performance - a -100% and would give WAC a market capitalization of almost $0. Unusual volume can be a major signal that investment gurus and momentum traders are piling into a stock ahead of a catalyst.
    China coal imports rise in November despite push against pollution

    China coal imports rise in November despite push against pollution

    China's overseas shipments unexpectedly jumped as global demand remained firm, while import growth remained steady. The number beat analysts' forecast of a 5.0 percent increase and compared with 6.9 percent growth in October.
  • Could Sears Holdings Corporation (SHLD) Change Direction After Today's Big Increase?

    Other large investors have also recently bought and sold shares of the company. 89 funds opened positions while 205 raised stakes. After $0.89 actual EPS reported by Tyler Technologies, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
    Two killed in knife attack at Tokyo shrine

    Two killed in knife attack at Tokyo shrine

    One man and one woman were killed and two others injured on Thursday night in a knife attack in Tokyo, local police said. The motive was unclear, though Japanese media reported there may have been a feud between the priest and her brother.
    Lonzo Ball dishes to Brandon Ingram for game-winning shot over Sixers

    Lonzo Ball dishes to Brandon Ingram for game-winning shot over Sixers

    As for the Sixers, they've now lost three of their last four games, and have a date with LeBron James and the Cavs on Saturday. But the Lakers never fell behind, hanging on to break a losing streak and quiet their, and the Ball family's, dissenters.