Quotes with Resistance & Support
Market Information

Kingfisher’s Q3 loss at Rs 755 crore as planes sit idle

This article was posted on Feb 5, 2013 and is filed under Market News

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

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Dada.asked for an advise.pls reply...view more »
- by Reba
Status: Replied view reply »

Market Stats

  • Nasdaq
    4462.90
    +20.20
    [+0.45%]
  • Nikkei 225
    15620.77
    -25.46
    [-0.16%]
  • Hang Seng
    24778.86
    +46.65
    [+0.19%]
  • Straits Times
    3382.66
    +29.01
    [+0.87%]
  • FTSE 100
    6782.72
    +9.28
    [+0.14%]
  • CAC 40
    4325.53
    +13.23
    [+0.31%]

Search Our Archives

Latest Investment Idea