Jet Airways profit jumps in Q4

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India’s largest private sector airline, Jet Airways, on Monday said it swung into a net profit for the fourth quarter ending March.

The company said it showed a net profit of 529.9 million rupees (11.04 million dollars) in the three months to March against a net loss of 2.21 billion rupees in the same period last year.

Total income for the quarter fell 5.66% to 25.66 billion rupees.

For the full year ending March, the carrier announced a net loss of 4.02 billion rupees from a net loss of 2.53 billion rupees the previous year.

Full-year revenues rose 24.3% to 117.86 billion rupees.

Jet shares rose as much as 4.18% to a day’s high of 316, before retracing to close at 305.25 on profit-taking.

Source: timesofindia.indiatimes.com

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