Soaring over stake sale deal with Etihad, Jet Airways posts Rs 85 cr net profit in Q3

PTI : Mumbai, Thu Feb 07 2013, 12:34 hrs

Ads by Google

Top Stories

Jet Airways today reported a net profit of Rs 85 crore for the quarter ended December 2012.

The Naresh Goyal-owned company had reported a net loss of Rs 101.22 crore in the October-December quarter ended December 31, 2011, Jet Airways said in a filing to the BSE.

Total income from operations rose to Rs 4,205.77 crore in the October-December quarter ended 2012 from Rs 3,939.16 crore in the year-ago period.

Shares of the company were trading at Rs 621.55, down 0.09 per cent on the BSE.

Meanwhile, ahead of finalising Etihad's deal to acquire 24 per cent stake in Jet Airways, top brass of the two carriers today met Finance Minister P Chidambaram and are understood to have discussed regulatory requirements.

The two airlines are likely to clinch the deal soon and apply for approval of the stake sale deal to the Foreign Investment Promotion Board (FIPB) of the Finance Ministry.

Speculation is rife that the deal would be firmed up in the next ten days.

Etihad is likely to buy 24 per cent equity in Jet Airways valued at about Rs 1,800 crore. If the deal is carried through, it would be the first investment by a foreign carrier in an Indian airline.

Stocks

target="_blank">More on Jet Airways

Company INFO

target="_blank">More on Jet Airways

Ads by Google

ALSO READ

This is China's Year of the SUV, automakers are scrambling to cash in on popularity of SUV. (Reuters)

China's struggling automakers jump on SUV boom

Private sector lender Axis Bank will replace state-run Bank of India as the trustee bank for NPS. (Reuters)

Axis Bank gets National Pension System trustee bank mandate

The financial year ended March 31, 2013 also marked the 4th consecutive year of net outflows by MFs. (Reuters)

Mutual Funds sell shares worth Rs 23,000 cr, highest in 12 year

Gold prices moved down by 0.34 per cent to Rs 27,323 per 10 gm in futures trade today. (Reuters)

Gold futures prices drop on global cues

Please read our terms of use before posting comments

TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).