New Delhi, Dec 8 (PTI) Shares of Jet Airways today

slumped more than 4 per cent in morning trade after the

private carrier reported a 91 per cent plunge in standalone

net profit for the September quarter.

Shares of the company opened on a weak note on the BSE at

Rs 668.90, then lost further ground to touch a low of Rs 665,

down 4.55 per cent over its previous close.

Similar movement was seen on the NSE as well, where the

stock opened at Rs 669.40, and then declined to Rs 664.65,

down 4.61 per cent.

The Naresh Goyal-owned airline posted a 91 per cent fall

in standalone net profit at Rs 49.63 crore for the three

months to September on account of a deep decline in other

income. It had posted a net profit of Rs 549.02 crore in

the same period last fiscal.

Total sales also declined to Rs 5,758.18 crore in the

quarter under review, from Rs 5,772.79 crore in the previous

fiscal, Jet Airways said in a regulatory filing yesterday.

Other income, which is generally the non-aeronautical

revenue, came down by 59 per cent to Rs 131.57 crore in the

reporting quarter, from Rs 319.58 crore in the year-ago

period, according to the filing.

“The weak demand in the Gulf continues while low fares as

well as yields in the domestic market have limited the ability

to offset the increase in fuel prices,” Jet Airways Chief

Executive Officer Vinay Dube was quoted as saying in a

release.

This is published unedited from the PTI feed.