BackJetLite Q3 loss at Rs22 cr
JetLite Q3 loss at Rs22 cr
PremiumNew Delhi: Budget carrier JetLite incurred a loss of Rs22 crore for the third quarter (Q3) ended 31 December 2008, taking the total loss of the first nine months of the current fiscal year higher than that of its parent airline Jet Airways.
JetLite has a total loss of Rs498.9 crore for the first three quarters of the ongoing financial year, while that of Jet in the same period stands at Rs455.3 crore.
The no-frills carrier had reported a loss of Rs134.8 crore in the first quarter, Rs273 crore loss in the second and Rs22 crore loss in the third quarter.
When asked how the losses in the three quarters do not add up to Rs498.9 crore, the company spokesperson said, “There was deferred tax credit of Rs69 crore in the first quarter, which was adjusted subsequently. The total loss is Rs498.9 crore".
As for the latest quarter, JetLite recorded revenues of Rs474.1 crore, up 10.3% from the corresponding quarter of the previous financial year.
The carrier had reported total sales of Rs429.9 crore in the corresponding quarter.
It had a passenger load factor of 67.8% for the third quarter, down from 71.6% in the year-ago period.
However, JetLite could bring down its loss in October-December to a fourth of the Rs86 crore loss in Q3 of the last financial year.
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