JET AIRWAYS Announces Quarterly Results (3QFY19); Net Profit Down 455.7%

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JET AIRWAYS Announces Quarterly Results (3QFY19); Net Profit Down 455.7%
Mon, 18 Feb

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

JET AIRWAYS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m60,86261,61261,480-0.2%1.0%
Other incomeRs m2,631755504-33.3%-80.8%
TurnoverRs m63,49362,36761,984-0.6%-2.4%
ExpensesRs m58,05171,91864,189-10.7%10.6%
Gross profitRs m2,811-10,306-2,709-196.4%
DepreciationRs m1,5691,1101,104-0.5%-29.6%
InterestRs m2,2212,3142,56911.0%15.6%
Profit before taxRs m1,653-12,975-5,878-455.7%
TaxRs m0000.0%0.0%
Profit after taxRs m1,653-12,975-5,878-455.7%
Gross profit margin%4.6-16.7-4.4
Effective tax rate%0.00.00.0
Net profit margin%2.6-20.8-9.5
* 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 1.0% on a year-on-year (YoY) basis. The expenses were up by 10.6% YoY during the same period.
  • The company's operating profit declined by 196.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.4% in 3QFY19 as against 4.6% in 3QFY18.
  • Depreciation charges declined by 29.6% and finance costs increased by 15.6% YoY, respectively.
  • Other income declined by 80.8% YoY during the quarter.
  • Net profit for the quarter declined by 455.7% YoY. Net profit margins during the quarter declined from 2.6% in 3QFY18 to -9.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.7% QoQ during the same period.
  • The company's operating profit increased by 73.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.4% in 3QFY19 as against 16.7% in 2QFY18.
  • Net profit for the quarter increased by 54.7% QoQ, while net profit margins increased from -20.8% in 2QFY18 to -9.5% in 3QFY19.

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 741.8 to Rs 237.7, registering a Loss of Rs 504.1 or around 68.0%.

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 237.7, the price to book value (P/BV) ratio of JET AIRWAYS stands at -0.4 times.

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