Jet Airways on Monday reported a whopping Rs 1,261 crore in consolidated net losses for the three months to September against a profit of Rs 71 crore in the same period year ago, impacted by higher fuel cost and the ongoing plunge in the rupee.
Already its larger rival Indigo had reported a net loss of Rs 652.13 crore in the September quarter compared to a profit of Rs 551.56 crore a year ago, making it the first loss since becoming a publicly traded company.
On a standalone basis, the Naresh Goyal promoted airline, which has been facing cash crunch from some time leading to delayed salaries and other payments, reported a net loss of Rs 1,297.46 crore against a profit of Rs 49.63 crore a year ago.
Total sales rose to Rs 6,363 crore during the reporting quarter, which is a growth of 6.9 percent from Rs 5,952 crore over the same quarter last fiscal.
