Jet Airways Q3 net dips 53% at Rs 61.01 crore | india | Hindustan Times
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Jet Airways Q3 net dips 53% at Rs 61.01 crore

The company had recorded a net profit of Rs 129.63 crore in the third quarter of last fiscal.

india Updated: Jan 21, 2006 16:40 IST

India's largest private carrier Jet Airways India Ltd said on Saturday that its net profit declined by 53 per cent at Rs 61.01 crore for the quarter ended December 31, 2005 compared to the year-ago quarter due to high fuel costs and competition.

The company had recorded a net profit of Rs 129.63 crore in the third quarter of last fiscal.

However, the total income increased 21.78 per cent to Rs 1,499.03 crore for the third quarter from Rs 1,230.90 crore in the year-ago period, the company informed the Bombay stock Exchange.

Jet Airways, which announced on Thursday it would acquire rival Air Sahara for $500 million (about Rs 2,300 crore) in cash, was last month allowed by the Reserve Bank to hedge fuel outside India.

The airlines, which is already flying to international destinations like London and Singapore, is still awaiting landing rights in the US.

Jet shares ended down 2.2 per cent at Rs 1,125.15 on the last trading day of the week on Friday.

First Published: Jan 21, 2006 16:40 IST