Jet Airways Q3 profit nearly halves as fuel costs soar

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

Net profit for the three months ended December 31 stood at Rs 165 crore ($25.74 million) versus Rs 305 crore in the year ago quarter.

Revenue from operations grew 10.4 per cent to Rs 6,086 crore.

Total expenses for the quarter jumped 10 per cent with aircraft fuel expenses rising around 29 per cent to Rs 1,840 crore.