Jet Airways shares plunge 5% after earnings announcement

Shares of Jet Airways on Thursday dipped 5 per cent to its lowest buying and selling permissible restrict for the day after the corporate reported a lack of Rs 153.35 crore for the June quarter of the final monetary 12 months.
The inventory declined 5 per cent to Rs 126.45 — its lowest buying and selling permissible restrict for the day — on each the BSE and the NSE.
Grounded provider Jet Airways on Wednesday reported a lack of Rs 153.35 crore for the June quarter of the final monetary 12 months.
In the year-ago interval, the loss stood at Rs 1,514.20 crore, in keeping with a regulatory submitting.
The whole revenue of the airline, which has not flown since April 17, 2019, stood at Rs 10.96 crore within the June quarter of the final fiscal.
For the fiscal 2019-20, Jet Airways posted a loss Rs 2,841.45 crore on a complete revenue of Rs 354.20 crore.

Meanwhile, as per the detailed order revealed by the National Company Law Tribunal (NCLT) on Wednesday, the Jalan Kalrock Consortium, the successful bidder for the grounded Jet Airways, will make a complete money infusion of Rs 1,375 crore within the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore beneath the accepted decision plan.
The NCLT on June 22, accepted the consortium’s decision plan for Jet Airways, which has been present process insolvency decision course of since June 2019. The provider shuttered operations in April 2019.