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Last Updated : Jul 29, 2020 09:39 AM IST | Source: Moneycontrol.com

Jet Airways share price locked in lower circuit on disappointing FY19 results

There were pending sell orders of 90,255 shares, with no buyers available.

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Jet Airways was locked in lower circuit on July 29 after the company posted weak set of numbers for the financial year 2019.

This is a rare instance of a company announcing its results more than a year late.

The company's net loss ballooned to Rs 5,538 crore for the year ending March 31, 2019, as compared to a loss of Rs 767 crore a year earlier hurt by a substantial increase in fuel costs and other expenses.

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Its standalone revenue was marginally down by 2.6 percent to Rs 23,314 crore from Rs 23,958 crore, a year earlier.

Also Read - Jet Airways net loss balloons to Rs 5,538 crore in FY19

The results, which were announced by the company to the exchanges past midnight on July 29, underline its delicate financial condition. The airline had grounded its operations in April 2019 after it ran out of money to meet its debt repayment obligations.

There were pending sell orders of 90,255 shares, with no buyers available.

At 09:25 hrs Jet Airways was quoting at Rs 29.10, down Rs 1.50, or 4.90 percent on the BSE.
First Published on Jul 29, 2020 09:39 am
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