Jet Airways extends gains as Q2 loss narrows

Posted operating profit of Rs 453 crore in the September 2012 quarter, against loss of Rs 258 crore in a year ago quarter.

Jet Airways (India) is trading higher by 4% at Rs 376, extending its Friday’s 3% gain after reporting an operating profit of Rs 453 crore for the second quarter ended September 2012, against a loss of Rs 258 crore in a year ago quarter.

Meanwhile, the private airline reported a lower loss for the second quarter at Rs 100 crore as against loss of Rs 713 crore in the corresponding quarter last year. Total income grew 25.88% to Rs 4,195 crore from the Rs 3,332 crore reported in the year-ago quarter,” Jet Airways said in a statement.

The stock has rallied 17% in past four trading sessions compared to around 2% rise in benchmark Sensex. A combined 836,820 shares have changed hands on the counter till early noon deals on the BSE and NSE.