Jet Airways stock jumps 6% on Q4 earnings

For Q4 of FY16, it reported a net profit of Rs 426 cr, compared to a loss of Rs 1,803 cr for same period last year

Shares of Jet Airways today surged nearly 6% after the company posted net profit of Rs 426 crore for the March quarter.

The company's result came post market hours yesterday.

The stock jumped 5.84% to Rs 642 on BSE.

On NSE, it climbed 5.23% to Rs 638.

Staying profitable for the fourth straight quarter last fiscal, Jet yesterday posted a net profit of Rs 426 crore, primarily aided by lower fuel expenses and higher passenger numbers.

The full-service carrier, which has also boosted higher traffic from code share with other airlines, had a net loss of Rs 1,803 crore in the year-ago period.

"For Q4 of FY16, the company reported a net profit of Rs 426 crore, compared to a loss of Rs 1,803 crore for the same period last year. It marks the company's fourth straight quarter of profitability," Jet Airways had said in a release.

For the full year ended March 2016, the airline recorded a net profit of Rs 1,212 crore, as against a net loss of Rs 2,097 crore in 2014-15.

As per the carrier, it is the "highest ever annual profit in its history for the year ended March 31, 2016, and thereby achieved return to profitability a year earlier than the target set in its turnaround plan two years ago".