Jet Airways' standalone 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 of the current fiscal.

According to the company's regulatory filing to the BSE, its stand-alone net profit stood at Rs 1,08.11 crore from Rs 87.59 crore in the corresponding period of the last fiscal.

The company's stand-alone total income from operations during the quarter under review increased by 3.09 per cent to Rs 54,20.35 crore from Rs 52,57.97 crore earned during the corresponding period of 2015-16.

Jet Group's total revenue for the second quarter increased by 3.2 per cent to Rs 5,682 crore from Rs 5,504 crore in the corresponding period of the previous financial year.

Passenger revenues for Q2 FY17 rose by 2.2 per cent to Rs 4,785 crore from Rs 4,682 crore, 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.

--IANS

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