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Jet Airways shares rose early in the trading day today after the airline announced a loss of 1,261 crore for the quarter ended September. However, the net loss was reduced compared to the loss of crore of R 1,323 recorded in the first quarter of the current fiscal year. The drop in the Brent crude price below $ 70 per barrel, at $ 69.12 per barrel, also boosted investor sentiment.
The stock rose 3.34% to 250.15, compared with the previous close of 242.05 on the BSE. He opened with a 5.80% loss to 228 on the BSE.
Small cap stocks have lost 65.17% in the past year and have fallen 70.32% since the beginning of this year. However, the stock has generated 21.88% returns in the last month. The stock trades above its 50-day moving average of 210.87, but below its 200-day moving average of 321.72.
The stock recorded a volume of 3.81,181 shares traded on BSE, compared to the three-month average volume of 7.27,410 and a 10-day average volume of 8.44,400.
The stock peaked at 52 weeks (883.65) on January 5, 2018 and 163 weeks (163) on October 1, 2018.
Increased fuel costs, which rose 59%, and the sharp fall in the rupee, which has increased sevenfold. The peak exchange rate losses resulted in a net loss of 1,261 crores for the airline in the second quarter. It had a net profit of Rs. 71 billion in the same period last year.
The cash-strapped airline, which is apparently looking for investors in the face of the liquidity crisis, has announced that its fuel bill has jumped 58.6% to the neighborhood. He had spent 1,525.66 crores of rupees on fuel during the same period last year.
However, the airline experienced a 9.50% increase in net sales to Rs 6,161.15 in the second quarter, compared to 5,626.61 crores in the same period last year. . Net sales in the first quarter of the current fiscal year amounted to Rs 6,010. 46 crore.
Management seemed confident of surviving the crisis, highlighting the huge cost reduction projects under way.
"With our clearly defined profitability objective, we are in the process of transforming the vessel and are closely involved in all our activities." Vinay Dube, General Manager, said: "Despite these currency and billing losses, In the second quarter, the airline experienced growth of 7.3% capacity or available seat kilometers (ASKM) over the same period.
During this quarter, the number of pbadenger-kilometers (RPKM) or the volume of pbadengers sold increased by 10.5% or 7.45 million, or 2.2% more than comparable figures of the same period of last year. reduce theft on less profitable routes and increase production capacity in more lucrative markets, as part of its efforts to reduce costs and increase revenues, while struggling to keep up.
"The airline has begun an in-depth review … The measures will include the rationalization of operations on some non-economic routes," Jet said in a statement, saying the planes would be redeployed to more productive sectors at national level and international. 19659015]
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