Jet Airways Q1 net profit at Rs.3.52 crore

India’s largest airline group by domestic market share, Jet Airways, logged a net profit of Rs.3.52 crore in the first quarter of this fiscal due to higher seat sales and growth in passenger traffic as against a loss of Rs.22.53 crore in the like period of 2009-10.

The private-sector group, which operates premium international and domestic airline Jet Airways, low-fare domestic airline Jet Airways Konnect and budget carrier Jetlite, came out with the consolidated results for the first quarter Friday.

Sensex ends flat, gains 0.98 percent during week

A benchmark index for Indian equities closed flat in lacklustre trade while the world eagerly waited for the results of the stress test of 91 European banks due later in the day.

The 30-scrip sensitive index (Sensex) of the Bombay stock Exchange (BSE), which opened at 18,132.29 points Friday, closed at 18,130.98 points, 17.83 points or 0.1 percent up from its previous close at 18,113.15 points.

The Sensex gained 0.98 percent during the week. It had closed last week at 17,955.82 points

India set to grow at 9 percent next fiscal: PM’s panel

The Indian economy is set to grow at 8.5 percent this fiscal and 9 percent the next year, even though the recovery globally after the financial crisis will be anaemic, the Prime Minister’s Economic Advisory Council said Thursday.

The council also predicted the annual inflation rate based on wholesale prices, which was estimated at 10.5 percent for June, to fall to around 7-8 percent by December and and further to 6.5 percent by March next year.

“We predict the agriculture sector to grow at 4.5 percent, industrial production at 9.7 percent and services by 8.9 percent this fiscal, for an overall growth of 8.5 percent,” C. Rangarajan, chairman of the council, said.