India's leading domestic carrier Jet Airways Tuesday said its net profit in the January-March quarter rose an impressive 60 percent from a year ago with an increase in the number of travellers.

The company's profit in the quarter ended March 31 touched Rs.1.33 billion, up from Rs.828.7 million logged in the same quarterly period of the previous fiscal year.

The total income of Jet Airways in the fourth quarterly period posted a growth of over 28 percent to Rs.12.03 billion. In the fiscal year 2004-05, Jet Airways' profit jumped 140 percent to Rs.4 billion.   

Jet Airways, which got listed on bourses in March, carried 8.14 million passengers in the fiscal year ended March 31, representing an increase of 18 percent over the previous year.

"Over the years, we have managed to grow faster than the overall growth rate shown by the industry and have consistently sustained our market share to retain a leadership position," said Naresh Goyal, chairman of Jet Airways.

"Our ongoing initiatives in enhancing the customer's flying experience will surely enable us to hold our own at a time when this industry is getting increasingly competitive," he said in a statement.

Currently, the four main domestic airlines - state-run Indian Airlines, Jet Airways, Air Sahara and the low-fare Air Deccan - carry some 19 million passengers among themselves every year.

At least four new budget airlines will take off in domestic aviation over the next six months and half a dozen more are likely to be added in two to three years, triggering a severe price war.

Jet Airways currently operates with a fleet of 44 aircraft - 36 Boeing 737s and eight ATRs.

It also connects Colombo, Kathmandu and Singapore in the international sector. 

The airline will launch its Chennai-Kuala Lumpur service May 18 followed by a thrice-a-week service in the Mumbai-London sector May 23. Jet will launch its US operations in June by connecting Newark with Mumbai via Brussels.

--Indo-Asian News Service