Jet Airways' Q2 net profit plunges 91% on higher expenses

Jet Airways on Thursday reported a 91 per cent year-on-year fall in net profit for the quarter ended September 30, 2017, on account of higher expenses and a decline in other income.

The private carrier’s net profit on a standalone basis stood at Rs 49.6 crore, as against Rs 549 crore in the same quarter last year. Its revenue from operations grew a modest 3 per cent to Rs 5,626 crore, but a 58 per cent decline in other income led to the sharp fall in profit.

In the second quarter of 2016-17, the airline had posted a profit of