Jet Airways FY06 net up 15% at Rs 452.04cr

Jet Airways has posted a 15.32% increase in net profit for FY06 at Rs 452.04 crore when compared with Rs 391.99 crore in FY05.

According to an official release issued yesterday by Jet, total income during FY06 increased to Rs 6,135.47 crore as compared to Rs 4,420.17 crore in FY05. Net profit for Q4FY06 increased 70.77% to Rs 227.12 crore from Rs 133 crore in the corresponding quarter of the previous fiscal. Total income during Q4FY06 increased to Rs 1,969.56 crore from Rs 1,222.61 crore in Q4FY05.

The board has recommended a dividend of 60%, i.e.  Rs 6 per share of Rs 10 each) the release said.

Commenting on the results, Naresh Goyal, chairman of Jet Airways, said: "We are pleased to report a strong set of full-year results. We remain the market leader and the most profitable airline in India but we operate in a challenging environment. We are naturally concerned with the high level of input costs, primarily fuel, and we expect that the coming year could remain challenging on this front."

"Over the coming months, we will be working towards successfully integrating Sahara Airlines' operations into our own, subject to regulatory approvals. This is one of the most exciting opportunities in the history of Jet Airways and we are committed to capturing the full synergies of this acquisition with a sense of urgency," Goyal said.