 "Jet raises the pitch on service")
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".
