Jet turns corner with Rs 85 cr profit

In a better-than-expected performance in the third quarter, Jet Airways today reported a net profit of Rs 85 crore for the quarter ending December 2012 primarily because of a decline in their costs coupled with increase in passenger yields during the quarter.

During the period total cost of the airline fell by around 8 per cent when the input costs for aviation has grown in double digits.

In the same period last year, the Naresh Goyal-owned company had reported a net loss of Rs 101.22 crore. It had also incurred a loss of around Rs 100 crore in the second quarter. With profit in the third quarter, Jet Airways has become a profitable airline in the first three quarters of the current fiscal.

The airline had also earned a profit of around Rs 25 crore in the first quarter of this fiscal.

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