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Indian Airlines profit up 48 p.c.
Special Correspondent
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Despite rising domestic ATF prices
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NEW DELHI:
Public sector carrier Indian, formerly Indian Airlines, has recorded a net profit of Rs. 65.61 crore for 2004-05 against Rs. 44.17 crore in the previous year, up 48 per cent. The annual accounts of the company were approved by the board of directors at its meeting held here last week.
The record profit has been achieved in the face of rising domestic aviation turbine fuel (ATF) prices during the year. The increase in traffic and in total revenue from Rs. 4,677.50 crore in 2003-04 to Rs. 5,362.57 crore in 2004-05 has been the major contributor to the increased profit.
Also contributing to the net profit after taxation were the cost control measures adopted during the year on account of which a saving of Rs. 76.59 crore was achieved.
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