Jet net falls 34 per cent to Rs 40.04 cr

Jet Airways posted a 34.37 per cent decline in its net profit to Rs 40.04 crore for the quarter ended December 31 over Rs 61.01 crore for the corresponding year-ago quarter.

In terms of sequential quarters, however, the airline posted its first profit in three quarters, helped by a fuel surcharge and income from the sale of an aircraft.

The private airline's year-on-year operations grew 30.94 per cent to Rs 1,935.68 crore in the period under review.

Other income stood at Rs 94.36 crore over Rs 20.78 crore for the December quarter in the last financial year.

Jet Airways Chief Executive Officer Wolfgang Prock-Schauer attributed the performance to better load factor and improved yields on the international sector coupled with strict cost-cutting.

"We had an average load factor of 70 per cent during the quarter against 64 per cent in the last quarter. Moreover, our international routes of Saarc and Asean have become profitable," Prock-Schauer said.