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JET AIRWAYS Announces Quarterly Results (2QFY19); Net Profit Down 2714.3%

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JET AIRWAYS Announces Quarterly Results (2QFY19); Net Profit Down 2714.3%
Wed, 14 Nov

JET AIRWAYS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

JET AIRWAYS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m56,26660,10561,6122.5%9.5%
Other incomeRs m1,31656575533.8%-42.6%
TurnoverRs m57,58260,66962,3672.8%8.3%
ExpensesRs m53,65166,68071,9187.9%34.0%
Gross profitRs m2,615-10,185-10,306-494.1%
DepreciationRs m1,5421,1211,110-1.0%-28.0%
InterestRs m1,8932,4892,314-7.0%22.2%
Profit before taxRs m496-13,230-12,975-2714.3%
TaxRs m0000.0%0.0%
Profit after taxRs m496-13,230-12,975-2714.3%
Gross profit margin%4.6-16.9-16.7
Effective tax rate%0.00.00.0
Net profit margin%0.9-21.8-20.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 9.5% on a year-on-year (YoY) basis. The expenses were up by 34.0% YoY during the same period.
  • The company's operating profit declined by 494.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.7% in 2QFY19 as against 4.6% in 2QFY18.
  • Depreciation charges declined by 28.0% and finance costs increased by 22.2% YoY, respectively.
  • Other income declined by 42.6% YoY during the quarter.
  • Net profit for the quarter declined by 2714.3% YoY. Net profit margins during the quarter declined from 0.9% in 2QFY18 to -20.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.9% QoQ during the same period.
  • The company's operating profit increased by 1.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.7% in 2QFY19 as against 16.9% in 1QFY18.
  • Net profit for the quarter increased by 1.9% QoQ, while net profit margins increased from -21.8% in 1QFY18 to -20.8% in 2QFY19.

To see how JET AIRWAYS has performed over the last eight quarters, please visit here.

JET AIRWAYS Share Price Performance

Over the last one year, JET AIRWAYS share price has moved up from Rs 693.6 to Rs 259.7, registering a Loss of Rs 433.9 or around 62.6%.

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 259.7, the price to book value (P/BV) ratio of JET AIRWAYS stands at -0.4 times.

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