Kingfisher’s Q3 loss at Rs 755 crore as planes sit idle
Loss would have been Rs 1,090 cr had the airline used accepted accounting standards, says auditor
Kingfisher Airlines today reported a net loss of Rs 755.17 crore for the third quarter ended December 31, 2012, a period when it did not operate a single flight.
The company had a net profit of Rs 444.26 crore in the quarter ended December 2011, Kingfisher said in a filing to the BSE.
“During the quarter under review, Kingfisher did not have any operations. The company submitted a revival plan to the DGCA for renewal of its scheduled operator’s permit and for restart of operations,” it said.
Following the results, shares of the company fell by 3.83% to Rs 12.06 on the BSE in late morning trade.
“After announcing finance costs of Rs 401 crore, a one-time cost of Rs 275 crore due to re-delivery of aircraft (which will reduce lease rentals and other related costs going forward), the net loss was Rs 755 crore,” the Vijay Mallya-promoted carrier said.
“Kingfisher has made significant progress in complying with the DGCA requirement,” the airline added.
For more visit: Business Standard
Search Our Archives
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
- Mac whr r u Mr. CB??? Hope all is well wit...In Intraday calls for 19-12-14
- PCS CB Sir, I am Having Creative Merchant...In Intraday calls for 19-12-14
- Prashanth What is your view on HDFC BANK?, FIPB ...In Intraday calls for 19-12-14
- balaji sir i have sail 75 pe 1.7 hold are exi...In Intraday calls for 19-12-14
- Wahid GM CB Sir, bought Wochardt @919 can yo...In Intraday calls for 19-12-14
- NIZ sir activated currency trading with my...In Intraday calls for 19-12-14
- Sham hi cb sir, have mail you please reply....In Intraday calls for 19-12-14