Other Income Lifts Jet Airways’s Q1 Earnings


Of the three listed Indian aviation companies, Jet Airways (India) Ltd’s June quarter results, announced on Tuesday after market hours, are the least impressive.

The uncomfortable fact is that “other income” growth of 51% over the same period last year lent considerable support to its reported stand-alone net profit, which more than doubled to Rs54 crore. It’s worth noting that the company’s March quarter net profit too got a boost from other income.

What’s more, Jet’s June quarter operating numbers don’t impress either. Ebitdar, a key measure of profitability for airlines, declined almost 15% year-on-year to Rs715 crore. Read More…

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