Jet Airways declines 5 pc after Q1 earnings
Shares of Jet Airways on Wednesday plunged nearly 5 per cent to its lowest trading permissible limit for the day after the company reported widening of loss in the year ended March 2019.
The stock declined 4.90 per cent to Rs 29.10 — its lower circuit limit — on the BSE.
On the NSE, it tanked 4.92 per cent to Rs 28.95.
Jet Airways, which is undergoing insolvency resolution process, has reported widening of loss to Rs 5,535.75 crore in the year ended March 2019 as surge in expenses took a toll.
The full-service carrier, which shuttered operations in April last year, had a loss of Rs 766.13 crore. These figures are for standalone comprehensive losses.
