Jet Airways scrip plunges after Board defers consideration of Q1 results

Jet Airways scrip plunges after Board defers consideration of Q1 results

Mumbai: Jet Airways scrip plunged on Friday, a day after its Board deferred consideration of the first quarter financial results.

At the BSE, the company’s scrip plunged by 8.39 per cent or Rs 25.30 at Rs 276.40 from its previous close of Rs 301.70.

The fall in Jet Airways’ scrip price came a day after its Board deferred the consideration of unaudited financial results for the first quarter of the current financial year.

“…Board of Directors of the Company, at its meeting held today (Thursday), deferred the matter of consideration of the unaudited financial results for the quarter ended 30 June, 2018,” the airline had said in a regulatory filing on Thursday.

“It may be noted that the Audit Committee did not recommend the said financial results to the Board for its approval, pending closure of certain matters,” it added.

On its part, the BSE asked the company for information on the matter under the disclosure verification under the Listing Regulations, 2015.

In its reply, the company said that it will intimate the time for Board meeting to consider the financial results.

The airline further said that its Audit Committee Chairman S. Vishwanathan did not quit and that his term of office came to an end at the AGM held on August 9, 2018.

IANS