Private carrier Jet Airways India, which recently acquired rival Air Sahara, on Tuesday posted a 93.8 per cent dip in net profit at Rs 27.94 crore for the fiscal ended March 31, as compared to Rs 452.04 crore in the previous year.
The carrier's total income increased 21.5 per cent to Rs 7,401.31 crore for the fiscal from Rs 6,087.57 crore a year ago, it informed the Bombay Stock Exchange (BSE).Jet Airways' net profit for the fourth quarter ended March 31 declined 61.24 per cent at Rs 88.01 crore, as compared to Rs 227.12 crore for the same period last year.
The fund raising comes close on the heels of Jet Airways buying Air Sahara in April this year and its plans to launch low-cost arm, JetLite, in the next few months.
The airline chief Naresh Goyal had earlier said all necessary government clearances for JetLite have been received. The company might operate JetLite on international sectors in future.
Read more in The Economic Times article.
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