Jet back in the black with 8.5 cr Q1 profit

The Naresh Goyal-promoted Jet Group, which operates the country's largest private carrier Jet Airways, as well as low-cost carriers Jet Lite and Jet Konnect, posted a net profit of Rs 8.5 crore for the quarter ended June, against a loss of Rs 223 crore in the year-ago period. Jet Airways posted a net profit of Rs 3.5 crore, against a loss of Rs 225 crore a year ago.

The Naresh Goyal-promoted Jet Group, which operates the country's largest private carrier Jet Airways, as well as low-cost carriers Jet Lite and Jet Konnect, posted a net profit of Rs 8.5 crore for the quarter ended June, against a loss of Rs 223 crore in the year-ago period. Jet Airways posted a net profit of Rs 3.5 crore, against a loss of Rs 225 crore a year ago.

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The group saw traffic growth of 35 per cent, which pushed up revenues to Rs 3,499 crore — a growth of 23 per cent.

"This growth has been achieved through the integration of operational efficiencies; network planning, strategic code shares, marketing initiatives and on-time performance, all of which has helped the airline stay a step ahead," said Nikos Kardassis, CEO, Jet Airways.