Jet Airways reported a Rs25-crore net profit for the first quarter (April-June) of the current financial year, gaining from rationalization and subsequent increase in operating income.
The airline had registered a net loss of Rs123 crore in the year-ago quarter amidst rising costs of operation, including rising fuel costs.
The airline's revenue increased by about 30 per cent to Rs4,587 crore during the quarter against about Rs3,542 crore during the year-ago quarter.
Fuel costs increased about 26 per cent to about Rs1,967 crore. This was because the gains from the declining prices of international crude were offset by a depreciating rupee. The airline also operated more aircrafts in certain selected routes, which increased the total fuel cost.
Fuel cost also accounted for a little over 45 per cent of the airline's total operating cost.
The gains were mainly due to increase in domestic fares and international operations that accounted for 57 per cent of the airline's revenue.