Jet Airways shares erase early losses; end 4% up

Shares of Jet Airways today pared early losses and ended with 4 per cent gains despite the company reporting nearly 95 per cent fall in consolidated net profit in the three months ended March 2017.
The stock which opened the day with a loss of over 5 per cent later bounced back and ended at Rs 477.95, up 4 per cent on BSE. Intra-day, it soared 4.71 per cent to Rs 481.20.
On NSE, it went up by 3.97 per cent to close at Rs 477.90.
On the volume front, 12.71 lakh shares of the company were traded on BSE and over 82 lakh shares changed hands at NSE during the day.

Jet Airways yesterday reported nearly 95 per cent fall in consolidated net profit at Rs 23 crore in the three months ended March 2017 as higher fuel prices and lower fares took a toll on its bottomline.
Even though the full service airline carried more number of passengers in the quarter under review, it had a higher net profit of Rs 426 crore in the three months ended March 2016.
In the fourth quarter of 2016-17 fiscal, the carrier saw total revenue rise over 3 per cent to Rs 5,728 crore. The same stood at Rs 5,533 crore in the year-ago period, according to a release.