Jet Airways recorded a rise in net profit by 11% in the third quarter ended December 31. Jet Airways has recorded its fifth consecutive quarter of profit. Rs 118 crore is the net profit recorded as compare to last year's net profit of Rs 106 crore during same period.

The rise in profit was due to increasing demand of air travel, although the rise is below the expectations of the experts. During third quarter management has reported a tax liability of Rs 99 crore in the balance sheet.

Revenue have also shown a growth of 20% at Rs 3515 crore against last year's revenue.

On BSE Jet Airways closed at Rs 503.15, down 1.64 per cent.

Jet Airways has shown a growth of 14% in domestic traffic in third quarter over the same period last year. While international traffic shows a growth of 18.8%.

Talking about seat factor, that determines the utilisation level of existing capacity, seat factors grew from 75.4% in Q3 FY10 to 76.9% in domestic flights.

In spite of 24% rise in fuel cost, Jet Airways is very optimistic and confident. It said that passenger's interest in air travel can be seen through the bookings for the fourth quarter. Jet Airways is cheerful on the profits made by various international routes that were opened in last few quarters.