Jet Airways Q4 net profit drops by 91%; aircraft fuel expense rises to Rs 1,581 crore

Jet Airways on Tuesday announced its financial result for the quarter ended on March 31. The company reported a net profit of Rs 36.8 crore, a drop of 91% as against Rs 397.16 crore during the same period last year. In the previous quarter (Q3Y17) the company had reported a net profit of Rs 142.38 crore.

For the full financial year, Jet Airways reported a net profit of Rs 390.43 crore as against Rs 1173.56 crore in FY16. 

In Q4FY17, the revenue of the airline stood at Rs 5760 crore as against Rs 5450 crore in Q4FY16. 

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On expense side, leasing expense was Rs 590 crore in the last quarter of FY17 as against Rs 545 crore in Q4FY16. Aircraft fuel expenses were Rs 1581.05 crore in Q4FY17 as against Rs 999.07 crore in Q4FY16. 

The shares of the company closed at Rs 459.55 per piece, down 3.12% or Rs 14.80 on BSE.