Jet Airways shares closed with a gain of 2.3 ahead of release of Q1 earnings on Monday.Jet Airways on Monday reported a net loss of Rs 1,323 crore for the April-June period.
That marked a quarter-on-quarter increase of 27.7 per cent in the net loss.
The airline had registered a net profit of Rs 53.50 crore for the quarter ended June 30, 2017.
Jet Airways' revenue from operations for the first quarter of 2018-19 came in at Rs 6,010 crore, 6.4 per cent higher from Rs 5,648.87 in the corresponding period a year ago.The airline's financial performance in the quarter was hurt by higher fuel expenses, which soared 53 per cent to Rs 2,332 crore.Earlier this month, Jet Airways had deferred release of earnings for the April-June quarter.
The airline had said its audit committee did not recommend the results to the company's board for approval "pending closure of certain matters".Jet Airways, the country's second-largest airline by market share, had reported a loss of Rs 1,036 crore for the January-March quarter.Jet Airways shares closed with a gain of 2.3 ahead of release of Q1 earnings on Monday.