Jet flies into profit zone in Q1

Despite adverse factors such as high fuel prices and a depreciating rupee, Jet Airways, on Friday, reported a profit of Rs.24.7 crore in the first quarter ended June 30, 2012, after having reported losses in five consecutive preceding quarters. In the same period last year, it posted a loss of Rs.123.2 crore.
In a statement, the company said its consolidated revenue grew 31.4 per cent to Rs.5,274.8 crore, boosted by a 10 per cent growth in domestic traffic against an industry growth of 1 per cent. Fuel costs rose 26 per cent to Rs.1,967.4 crore. Foreign exchange losses were Rs.170.3 crore, The company’s EBITDAR (earnings before interest, tax, depreciation, amortization and restructuring) grew 148 per cent to Rs.825.5 crore. During the quarter, its EBITDAR margins rose to 16 per cent (8.4 per cent).
03/08/12 The Hindu

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Categories: Jet Airways Aug 2012