Jet Airways stock top loser on BSE after 91% fall in Q2 net profit

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The Jet Airways stock fell in early morning trade after the airline reported a 91 percent fall in Q2 net profit. The private carrier whose earnings were announced after market hours reported Rs 49.63 crore in net profit for the second quarter of the current fiscal compared to Rs 549.02 crore for the corresponding period of last fiscal.The fall in the profit has been attributed to the inability to offset the rise in jet fuel prices. “The weak demand in the Gulf continues, whilst 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 Vinay Dube said.At 10:20 am, the stock fell 3.35 percent or 23.35 points to 673.55 level.The stock closed 2.04% higher to Rs 696.75 on the BSE on Thursday. It hit an intra day high of 678.90 today.

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