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India's Jet Airways Q4, FY net profit drops, board okays rights issue


Published : Tue, 26 Jun 2007 11:16
By : Agencies
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LONDON (Thomson Financial) - India's Jet Airways Ltd said fourth quarter net profit fell sharply on increased fuel and overhead costs.

The country's largest private sector airliner said net profit fell 61.2 pct to 880.10 mln rupees, compared with 2.271 bln rupees in the year ago period. The total income for the period increased to 19.89 bln rupees from 19.50 bln rupees in the year-ago quarter.

For the full year to March 31, net profit fell to 279.40 mln rupees from 4.52 bln a year ago, while sales rose to 74.01 bln rupees during the year from 60.87 bln rupees.

Jet Airways also said its board has approved 400 mln usd rights share issue and recommended a dividend of 6 rupees a share.

tf-TFN-Europe_newsdesk@thomson.com

ssh/aku/jfr

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