The Hindu Business Line : Jet Airways Q1 net up 84 pc

IMPROVED seat factor, double-digit growth in the number of passengers carried, and higher aircraft utilisation and productivity have helped Jet Airways post first-quarter net profit of Rs 95.34 crore, a growth of 84 per cent over Rs 51.96 crore recorded in the corresponding previous period.

During the quarter under review, total revenues, including other income, increased by 44 per cent to Rs 1,345.36 crore (Rs 936.47 crore).

Aircraft fuel expenses grew to Rs 347.84 crore, accounting for 33.72 per cent of total expenses of Rs 1,031.43 crore, compared to Rs 215.28 crore on total expenses of Rs 701.78 crore, accounting for 30.67 per cent of the total, earlier.

The airline improved aircraft utilisation by seven per cent to 10.6 hours, and achieved a break-even seat factor at 68.4 per cent despite the increase in fuel prices.

Jet achieved seat factor of 75.2 per cent (69 per cent). The company's stock closed the day at Rs 1,318 after opening at Rs 1,305.

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