Jet Airways nosedives on poor Q4

On Wednesday, the shares of Jet Airways were hammered on the bourses. The stock ended 8.50 per down at ₹245.35. The sharp drop reflected the market’s disappointment over the company’s record loss in the March quarter. At ₹2,153 crore, Jet Airways’ quarterly loss was the biggest ever and more than four times the loss in the same period last year. Even if the goodwill impairment of ₹700 crore in JetLite investment, and the one-time maintenance write-off of ₹783 crore during the latest March quarter are excluded, the airline’s loss of about ₹670 crore was 35 per cent higher than that in the year-ago period.