Jet Airways (India) jumps after stellar Q3 result

Jet Airways (India) gained 5.41% to Rs 601.75 at 12:44 IST on BSE after net profit jumped 640.2% to Rs 467.11 crore on 7.3% rise in net sales to Rs 5024.14 crore in Q3 December 2015 over Q3 December 2014.

The result was announced on Saturday, 6 February 2016.

Meanwhile, the S&P BSE Sensex was down 1.92 points or 0.01% at 24,615.05

On BSE, so far 10.02 lakh shares were traded in the counter as against average daily volume of 13.25 lakh shares in the past one quarter. The stock hit a high of Rs 619 and a low of Rs 587.10 so far during the day. The stock had hit a 52-week high of Rs 796 on 13 January 2016. The stock had hit a 52-week low of Rs 248.50 on 16 June 2015. The stock had underperformed the market over the past one month till 5 February 2016, sliding 22.66% compared with 3.77% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 29.06% as against Sensex's 6.41% fall.

The mid-cap airline company has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.

Jet Airways (India)'s earnings before interest, taxation, depreciation and amortization (EBITDA) quadrupled to Rs 751 crore in Q3 December 2015 over Q3 December 2014. Excluding impact of foreign currency fluctuations, net profit for Q3 December 2015 increased to Rs 515 crore, Jet Airways (India) said.

The growth in passengers flown and the increased aircraft utilization led to increase in Available Seat Kilometre (ASKM), which helped in improving both operating and financial performance in Q3 December 2015, Jet Airways (India) said. Jet Airways group was able to generate higher passenger traffic compared to capacity deployment. Domestic capacity grew by 14.6% while passenger traffic grew 15% in Q3 December 2015. In the international business, capacity grew by 2.6% while growth in passenger traffic was 5.1% in Q3 December 2015, the company said. Jet Airways (India) continues to develop synergies with Etihad Airways and other Etihad Airways Partners, it added.

Jet Airways Group currently operates a fleet of 116 aircraft. Flights to 73 destinations span the length and breadth of India and beyond, including Abu Dhabi, Bahrain, Bangkok, Brussels, Colombo, Dammam, Dhaka, Doha, Dubai, Ho Chi Minh City, Hong Kong, Jeddah, Kathmandu, Kuwait, London (Heathrow), Muscat, New York (Newark), Paris, Riyadh, Sharjah, Singapore and Toronto.

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