Jet Airways Shares Zoom As Net Profit Swings To Rs 70 Crore In Q2

Shares of Jet Airways Ltd, a leading airline of India, surged as much as 6.28% today. After six straight loss-making quarters, the Mumbai-based airline swung to a net profit of Rs 69.82 crore in July-September this year. It witnessed a loss of Rs 891.01 crore in the same period last year.

At 3:45 p.m., Jet Airways was trading 6.28% up at Rs 268.60. It hit a low of Rs 260.50 and a high of Rs 267.15 in trade today.
Sales increased 16% to Rs 4,402.76 crore. Jet Airways had last year sold its privilege programme to its strategic partner Etihad Airways as part of a deal under which the Abu-Dhabi based carrier also bought 24% stake in Jet for Rs 2,059 crore, The Economic Times reported.

Apart from Q2 results, Jet Airways' commercial deal with Abu Dhabi-based Etihad, including a Rs 2,060-crore stake sale, has received approval from the Competition Commission of Singapore. The deal was announced in April 2013.

As per a report by a leading news agency, the Singapore regulator announced in June this year that it has launched a public scrutiny of Jet-Etihad alliance to probe any possible violation of competition laws in the country.
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