Jet Airways’ Q3 standalone net profit falls about 46%

TIL Desk/Business/Mumbai/ Passenger carrier Jet Airways on Wednesday reported a fall of 45.86 per cent in its standalone net profit for the third quarter of 2017-18. According to the company, its net profit during the quarter under review fell to Rs 165.25 crore from Rs 305.20 crore reported for Q3 of 2016-17.

However, the company’s total income rose nearly 7 per cent during the period ended December 31, 2017 to Rs 6,349.34 crore from Rs 5,940.63 crore earned in the corresponding quarter of 2016-17.

On a consolidated basis, Jet Airways Group reported a net profit of Rs 186 crores for the third quarter of FY18 against a net profit of Rs 299 crore for Q3 FY17.

The company said that its net profit of of Rs 299 crore for Q3 FY17 “included a profit of Rs 327 crore on account of sale and leaseback of aircraft”. “The process to rationalise our cost structure is an ongoing one and will continue.