Jet Airways’ stand-alone Q2 net profit up 23.43%
Jet Airways on Friday reported an increase of 23.43 per cent in its stand-alone net profit for the second quarter.
According to the company’s regulatory filing to the BSE, its stand-alone net profit stood at Rs1.08 billion (Dh58.84 million, Dh16.02 million) from Rs875.9 million in the corresponding period of the last fiscal.
Jet Group’s total revenue for the second quarter increased by 3.2 per cent to Rs56.82 billion from Rs55.04 billion in the corresponding period of the previous financial year.
Passenger revenues for the second quarter of the 2017 fiscal year rose by 2.2 per cent to Rs47.85 billion from Rs46.82 billion, the company said in a statement.
“Improvements in operational performance have helped Jet Airways participate in the strong growth being witnessed in the Indian aviation market,” Naresh Goyal, Chairman of Jet Airways was quoted in the statement.
James Hogan, vice-chairman, Jet Airways and President and Chief Executive Officer, Etihad Aviation Group, said, “Our continued collaboration has supported ongoing improvement in Jet Airways performance, despite the ongoing pressure in yields.”
The statement disclosed that on a consolidated basis the airline’s passenger traffic during the quarter under review increased by 6.3 per cent to 6.77 million from 6.37 million in the like period of previous fiscal.
