Jet Airways (India), a provider of domestic and international airline services, swung to a profit for the quarter ended March 2016. During the quarter, the company reported a profit of Rs 3,971.60 million compared with a loss of Rs 17,289.90 million in the same quarter last year.

Revenues for the quarter for the quarter rose 11.34 times to Rs 524,528.00 million, compared with Rs 46,267.90 million for the prior year period.

Earnings per share stood at Rs 34.96 compared with negative Rs 152.20 in the same quarter last year.

Naresh Goyal, chairman, Jet Airways, said, ''Jet Airways has been revitalized as a business in the last two years. Our focused efforts have resulted in significant improvement in operational performance leading to record profitability.

Customer satisfaction, network enhancement and driving benefits through further improvements in operational efficiencies continue to be our key priorities.

The Indian aviation industry is witnessing a growth phase and Jet Airways' commitment to connect India to the world and vice versa is our contribution to India's economic growth story.

The competitive and structural challenges in the Indian aviation market continue to exist. In addition, the induction of capacity and the enhanced competitive scenario is creating a constant pressure on yields. We will continue to focus on strengthening our balance sheet to ensure sustainable growth and value addition for our stakeholders.

We are committed on delivering an enhanced guest experience and leveraging the commercial and operational synergies from our partnership with Etihad Airways.''

Shares of the company gained Rs 17.2, or 2.84%, to trade at Rs 623.75. The total volume of shares traded was 285,442 at the BSE (10.28 a.m., Friday).