Jet Airways Group returns to profitability one yr ahead of target, highest annual profit in FY2016

Jet Airways Group revenue up 1% - financial highlights:

• Three months ended 31-Mar-2016:
• • Total revenue: INR56,865 million (USD843.0 million), +1.3% year-on-year;
  • Total costs: INR52,654 million (USD780.6 million), -8.5%;
  • • Fuel: INR10,719 million (USD158.9 million), -26.7%;
    • Labour: INR7027 million (USD104.2 million), +6.3%;
  • Profit before tax: INR4211 million (USD62.4 million), compared to a loss of INR1427 million (USD22.9 million) in p-c-p;
  • Net profit: INR4255 million (USD63.1 million), compared to a loss of INR18,033 million (USD289.7 million) in p-c-p;
  • Passenger numbers: 6.7 million, +3.1%;
  • Passenger load factor: 83.3%, -4.5 ppts;
  • Revenue per ASK: INR4.34 (USD 6.4 cents), -6.7%;
  • Cost per ASK: INR4.16 (USD 6.2 cents), -16.1%;
  • Cost per ASK excl fuel: INR3.32 (USD 4.9 cents), -10.3%;
• 12 months ended 31-Mar-2016:
• • Total revenue: INR229,061 million (USD3504 million), +5.7%;
  • Total costs: INR217,320 million (USD3325 million), -3.2%;
  • • Fuel: INR54,034 million (USD826.6 million), -26.6%;
    • Labour: INR25,323 million (USD387.4 million), +8.9%;
  • Profit before tax: INR11,741 million (USD179.6 million), compared to a loss of INR7800 million (USD127.7 million) in p-c-p;
  • Net profit: INR12,117 million (USD185.4 million), compared to a loss of INR20974 million (USD343.3 million) in p-c-p;
  • Passenger numbers: 25.8 million, +14.8%;
  • Revenue per ASK: INR4.43 (USD 6.8 cents), -5.3%;
  • Cost per ASK: INR4.34 (USD 6.6 cents), -13.4%;
  • Cost per ASK excl fuel: INR3.26 (USD 5.0 cents), -3.3%. [more - original PR]

*Based on the average conversion rate at INR1 = USD0.014825 for three months ended 31-Mar-2016
*Based on the average conversion rate at INR1 = USD0.016065 for three months ended 31-Mar-2015
*Based on the average conversion rate at INR1 = USD0.015298 for 12 months ended 31-Mar-2016
*Based on the average conversion rate at INR1 = USD0.016369 for 12 months ended 31-Mar-2015