1 Min Read
May 30 (Reuters) - India's second largest airline, Jet Airways Ltd, reported a 91 percent slump in net profit for the March quarter, hurt by higher aircraft fuel expenses.
Net profit for the fourth quarter came in at 368 million rupees ($5.7 million) compared with a profit of 3.97 billion rupees a year earlier, while total income from operations rose 5.7 percent to 57.60 billion rupees.
Expenses for aircraft fuel increased 58 percent to 15.81 billion rupees for the quarter, the company said in a statement on Tuesday. (bit.ly/2rQJ2KF) ($1 = 64.6550 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)