Jet Airways (India) Limited
NSE Symbol JETAIRWAYS
Result Period 04/09 to 03/10 vs 04/08 to 03/09 (Annual)
REVIEW
Jet Airways India Limited has reported highly improved performance in FY 10 – specially in the Q3 and Q4 of FY 10.
On a consolidated basis, sales has registered a decline to 10896 Cr in FY 10 from Rs.12656 Cr in FY 09 ( a decline of Rs.1760 cr; Or, 13.91% YOY). The Non-consolidated Net Sales have also come down from Rs.11083 Cr in FY 10 to Rs.9433 Cr YOY.
However, raw material cost has come down to Rs.4917 Cr in FY 10, from Rs.6896 Crores in FY 09. Supported by this, the total expenditure on consolidated basis has come down to Rs.11783 crores in FY 10 from Rs.14839 Crores in FY 09,a decline of rs.3056 cr or20.59% YOY. Consequently, Jet airways has registered a Positive operational profit in FY 10 :at Rs.93.25 crores compared to Rs.(-)1760.77 crores in FY09. However, interest burden has increased by over Rs.200 crores.
Exceptional items has come down to Rs.(-)182.59 crores in FY 10 from Rs.(-) 1165.07 Crores in FY 09.
Consolidated Net LOSS has therefore Come down to 420.18 Crores in FY 10 from a huge loss of Rs.961.41 crores in FY 09.
The quarterly results indicate a more heartening picture.
The Net Profit in Q4 FY 10 was a (+)58.58 Cr; and in Q3 FY 10, NPT was (+)105.80 Crores. The same was a huge loss of Rs.(-)406.69 crores in Q2 and Rs.(-)225.33 crores in Q1. However, it was a positive Rs.52.99 Cr in Q4 of FY 09.
The Airlines Industry in India has still a long way to go. But, it appears from the results, and the confidence of the Management, that JerAirways, may turn the corner finally and decisively, in FY 2011.
CONSOLIDATED FIGURES
Description :: FY 10(lakhs) :: FY 09 ( lakhs)
Net Sales :: 1089611 :: 1265594
Other Operating Income :: 98024 :: 42196
Raw Materials :: 491747 :: 689641
Employees Cost :: 137697 :: 158426
Depreciation :: 96907 :: 90209
Other Expenditure :: 451959 :: 545591
Total Expenditure :: 1178310 :: 1483867
Profit from Operations :: 9325 :: -176077
Other Income 36171 :: 37096
Interest :: 104737 :: 80225
Exceptional items :: -18259 :: -116507
P B T :: -40982 :: -102699
Tax Expense :: 1036 :: -6558
P A T :: -42018 :: -96141
Net Profit :: -42018 :: -96141
Consolidated Net Profit :: -42018 :: -96141
Face Value (in Rs.) :: 10 :: 10
Paid-up Equity :: 8633 :: 8633
Reserves :: -17174 :: 146976
Basic EPS :: -48.67 :: -111.36
NON-CONSOLIDATED RESULTS
DESCRIPTION 2008-09 :: 2009-10
Net Sales:: 1108343 :: 943273
Other Operating Income ::39355 :: 92696
Raw Materials:: 562784 :: 398338
Employees Cost :: 141050 :: 122655
Depreciation :: 89981 :: 96196
Other Expenditure :: 474539 :: 399602
Total Expenditure :: 1268354 :: 1016791
Profit from Operations :: -120656 :: 19178
Other Income :: 30990 :: 26323
P B I E :: -89666 :: 45501
Interest :: 73803 :: 99301
Exceptional items :: -116507 :: -7045
P B T :: -46962 :: -46755
Tax Expense :: -6728 :: 9
P A T :: -40234 :: -46764
Net Profit :: -40234 :: -46764
Face Value (in Rs.) :: 10 :: 10
Paid-up Equity :: 8633 :: 8633
Reserves :: 146976 :: 74068
Basic EPS :: -46.6 :: -54.17
QUARTERLY RESULTS FIGURES
Q/E 03/10; 12/09; 09/09; 06/09; 03/09
Net Sales :: 260490 :: 272268 :: 202011 :: 208504 :: 226337
Raw Materials :: 106211 :: 109300 :: 98162 :: 84665 :: 80068
Total Exp :: 259471 :: 262082 :: 251665:: 243573 :: 240224
O P T:: 18316 :: 26477 :: -19163 :: -6452 :: 6341
Net Profit :: 5858 :: 10580 :: -40669 :: -22533 :: 5299
Face Value :: 10 :: 10 :: 10 :: 10 :: 10
Basic EPS :: 6.79 :: 12.25 :: -47.11 :: -26.1 :: 6.14
ANNOUNCEMENTS TO THE EXCHANGE
20-05-2010 Jet Airways (India) Limited has informed the Exchange that Mr. Nikos Kardassis has been re-designated as Chief Executive Officer of the Company with immediate effect and will lead the Company from its Head Office. -
20-05-2010 Jet Airways (India) Limited has informed the Exchange regarding a press release dated May 20, 2010, titled "Jet Airways group records high seat factors and strong operating margins".
20-05-2010 Jet Airways (India) Limited has informed the Exchange that the Company's Register of Members and Share Transfer Books will be closed from August 18, 2010 to August 26, 2010 (both days inclusive) for the purpose of the Company's Annual General Meeting scheduled to be held on August 26, 2010. -
20-05-2010 Jet Airways (India) Limited has informed the Exchange that the Board of Directors at its meeting held on May 20, 2010 has not recommended any dividend for the financial year ended March 31, 2010. -
20-05-2010 Jet Airways (India) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 260490 lacs for quarter ending on 31-MAR-2010 against Rs. 226337 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 5858 lacs for the quarter ending on 31-MAR-2010 against Rs. 5299 lacs for the quarter ending on 31-MAR-2009. -
20-05-2010 Jet Airways (India) Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1089611 lacs for year ending on 31-MAR-2010 against Rs. 1265594 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. (42018) lacs for the year ending on 31-MAR-2010 against Rs. (96141) lacs for the year ending on 31-MAR-2009. -
20-05-2010 Jet Airways (India) Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 943273 lacs for year ending on 31-MAR-2010 against Rs. 1108343 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. (46764) lacs for the year ending on 31-MAR-2010 against Rs. (40234) lacs for the year ending on 31-MAR-2009. -
14-05-2010 Jet Airways (India) Limited has informed the Exchange regarding a press release dated May 13, 2010, titled "Jet Airways Consolidates Leadership Position With Stellar Performance".
30-04-2010 Jet Airways (India) Limited has informed the Exchange regarding a press release dated April 29, 2010, titled "Jet Airways wins Prestigious Conde Nast Traveller India Award ". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
22-04-2010 Jet Airways (India) Limited has informed the Exchange regarding a press release dated April 22, 2010, titled "Jet Airways responds to a buoyant economy - introduces 'Konnect Select' - a new premium service". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
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