Jet Airways shares fly high; surges 8% after Q1 earnings

Shares of Jet Airways today advanced by almost 8 per cent after the company reported a consolidated net profit of Rs 226.4 crore for the first quarter ended June.
Jet Airways' scrip climbed 7.94 per cent to settle at Rs 400.20 on BSE. In intra-day, it gained 8.92 per cent to Rs 403.85.
On NSE, the stock soared 7.93 per cent to close at Rs 400.65.
Market valuation of the company went up by Rs 335.17 crore to Rs 4,546.17 crore following the rise in the stock.
In terms of volume, 14.05 lakh shares of the company changed hands on BSE and over 66 lakh shares were traded on NSE during the day.

Jet Airways today reported a consolidated net profit of Rs 226.4 crore for the first quarter ended June 30, helped by higher revenues and increase in passenger traffic.

The leading carrier had posted a loss of Rs 258 crore in the same period, a year-ago.
During the quarter, the airline saw its revenues jump to Rs 5,658 crore from Rs 5,097 crore in the year-ago period.
The improved performance provides further evidence of the growing momentum of the three-year turnaround, Jet Airways said in a statement.
Passenger revenues climbed 10.4 per cent to Rs 4,707 crore during the quarter.