Jet Air Q3 net up 11.3%, aims to save Rs 130 cr annually

Jet Airways third quarter (October-December 2010) net profit rose 11.3% year-on-year to Rs 118.2 crore, but higher fuel costs offset much of the gains from increased passenger traffic during the holiday season. Quarterly revenues rose around 20% to Rs 3515 crore, over the same period last year. The company has refinanced around Rs 2200 crore at lower interest rates, and expects to save Rs 130 crore annually, Shiv Kumar, VP Finance, Jet Airways told CNBC-TV18. Jet is hopes to improve margins in both domestic and international operations by 2-3% in future.