Jet Airways is trading higher by 2.2% at Rs 379, extending its 15% rally in past four-trading sessions, ahead of its first quarter financial results scheduled to be announced later today.
According to an average estimates of analysts, the company is likely to post net loss of Rs 144 crore for the quarter ended June 2012 against net loss of Rs 123 crore (Adjusted net loss of Rs 241 crore) in previous year quarter. The company's Q1 revenues are seen up 39% at Rs 4,938 crore against Rs 3,542 crore, on year-on-year basis.
The stock has outperformed the market by gaining 17% so far in the current week compared to 1.3% rise in benchmark Sensex, after SpiceJet posted an unexpected quarterly profit of Rs 56 crore for June quarter. Analysts on an average had expected a net loss of Rs 28 crore from the India's second-biggest budget airline for the quarter.
A combined around 1.23 million shares have changed hands on the counter so far on both the exchanges.
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