Jet Airways net rises 11.7% to Rs 118.23 crore

Mumbai: Jet Airways, India's largest airline by market share, on Tuesday posted its fifth successive increase in quarterly profits as the aviation sector flies out of turbulent times. Net profit for the Naresh Goyal-controlled firm rose by 11.7% to 118.23 crore, against 105.80 crore in the year-ago period.
Total income rose to 3,500 crore in the quarter ended December 31, from 2,936 crore in the corresponding period last fiscal, Jet said in a statement on Wednesday. Analysts feel Jet has performed below expectations. "We were expecting more revenue but the company has performed marginally lower than our expectation in terms of Ebidta and revenue," said Rashesh Shah, analyst at ICICI securities. Analysts are also sceptical of the growth in the aviation sector in the coming financial year. "The aviation sector had been performing well in the last financial year on account of increased demand. But we are expecting supply to rise in the next year leading to a demand-supply mismatch," said Shah.
03/02/11 Economic Times

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Categories: Jet Airways Feb 2011