 "Jet Airways gains on impressive Q2 results")
Jet Airways (India) has rallied 4% to Rs 262 after reporting a net profit of Rs 69.82 crore for the quarter ended September 2014 (Q2) on the back of gains from the sale of its frequent-flyer programme (FFP) and higher other income. The company had net loss of Rs 891 crore in a year ago quarter.
Sales increased 16% to Rs 4,403 crore against Rs 3,788 crore in the corresponding quarter of previous fiscal.
During the quarter, Jet reported a surplus of Rs 305 crore from the sale of FFP as an exceptional item. Its other income during the quarter was Rs 243 crore compared with Rs 73 crore in the year-ago quarter. Other income included profit from sale and lease back of planes and proceeds from the FFP sale.
The stock opened at Rs 262 and hit a high Rs 267 on NSE. A combined around one million shares changed hands on the counter on NSE and BSE till 0935 hours.
Sales increased 16% to Rs 4,403 crore against Rs 3,788 crore in the corresponding quarter of previous fiscal.
During the quarter, Jet reported a surplus of Rs 305 crore from the sale of FFP as an exceptional item. Its other income during the quarter was Rs 243 crore compared with Rs 73 crore in the year-ago quarter. Other income included profit from sale and lease back of planes and proceeds from the FFP sale.
The stock opened at Rs 262 and hit a high Rs 267 on NSE. A combined around one million shares changed hands on the counter on NSE and BSE till 0935 hours.