May 24, 2013, 08.59 PM | Source:

Jet Airways Q4 disappoints, net loss rises to Rs 495 cr

Jet Airways reported a loss of Rs 495 crore during the March quarter as against a loss of Rs 298 crore in a year ago period.

Country's largest private air carrier Jet Airways disappointed the street with a fourth quarter net loss at Rs 495 crore, up 66 percent compared to a loss of Rs 298 crore in a year ago period, despite sharp increase in other income.

Total income declined nearly 3 percent, year-on-year, to Rs 3,922 crore during the March quarter.

Also Read - Jet Airways shareholders approve Etihad deal

Brokerage house Merrill Lynch had expected the company to report a loss at Rs 31.3 crore for the quarter.

Other income increased quite significantly to Rs 346.5 crore in fourth quarter FY13 from Rs 51.1 crore in a year ago period.

Jet has received a tax write-back of Rs 6.8 crore during the quarter.

The stock fell 3.69 percent to close at Rs 562.70 on Bombay Stock Exchange.

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