NEW DELHI Feb 1 India's second biggest carrier Jet Airways, which is in final talks to sell a stake to Abu Dhabi's Etihad Airways, swung to a quarterly profit on Friday due to rising fares in an under-serviced market and on lower costs.
Jet earned 850 million rupees ($15.98 million) for October-December, exceeding estimates for the third straight quarter, compared with a loss of 1.01 billion rupees a year back.
Analysts were expecting a profit of 278.5 million rupees, according to Thomson Reuters I/B/E/S. ($1 = 53.1900 Indian rupees)
(Reporting by Anurag Kotoky; Editing by Jeremy Laurence)
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It remains to be seen whether Nifty will be able to break the 8,100 mark during October. With major events out of the way, the next trigger will be the Q2 FY16 earnings season which is expected to kick off next week. It is advisable for the investors to continue building their equity portfolio by utilising market volatility as an opportunity, writes Ambareesh Baliga. Full Article