Jet Airways is the top loser on the BSE currently, with the stock down over 6% at Rs.251.65, with an intra day low at Rs.243.

The company declared its Q4 and FY14 numbers yesterday late in the evening and today morning, it is reacting to the same. It posted its highest-ever consolidated annual net loss of Rs 4,129 crore for FY14 and loss for Q4FY14 widened to Rs.2153 crore v/s loss of Rs.495 crore. This is the fifth straight quarterly loss of the company.

Its loss in Q4 began from the operating costs level, where costs led by fuel, rose 29% (YoY) at Rs.5932 crore, which is much more than the net sales of Rs.4198 crore. Fuel expense, which alone ate away 45% of net sales, rose 15% (YoY) though sequentially there has been a marginal fall of around 0.5%. What further aggravated was the Rs.700 crore paid towards impairment of goodwill. Interest outgo stood at Rs.282 crore which in a way nullified the forex gain of Rs.83 crore and other income of Rs.112 crore.

For 2013-14 fiscal, Jet reported operating loss of Rs 2,076.2 crore and a non-cash extraordinary write down of Rs 936 crore, aircraft-on-ground of Rs 418 crore, and impairment of goodwill of Rs 700 crore.