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Jet Airways Q3 net nearly halves to Rs 1.65 bn as fuel costs soar

Reuters/ 14 Feb 18 | 06:31 PM

Jet Airways

Jet Airways (India) Ltd, the country's second-largest airline, on Wednesday reported a 46 percent drop in third-quarter profit, hurt by higher fuel expenses.

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Net profit for the three months ended Dec 31 stood at Rs 1.65 billion ($25.74 million) versus Rs 3.05 billion in the year-ago quarter.

Revenue from operations grew 10.4 percent to Rs 60.86 billion.

Total expenses for the quarter jumped 10 percent with aircraft fuel expenses rising around 29 percent to Rs 18.40 billion.

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