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02-17-2012, 04:12 PM #1
Kingfisher Airlines Q3 net loss widens to Rs 444 cr PTIKingfisher Airlines' net loss has widened to Rs 444.26 crore for the quarter ended December 31, 2011, due to high fuel costs and weaker rupee.
Debt-laden Kingfisher, controlled by Vijay Mallya, had reported a net loss of Rs 253.69 crore in the October-December quarter in the last fiscal, the company said in a regulatory filing to the BSE.
Income from operation also declined to Rs 1,342.32 crore in the quarter ended December 31, 2011 from Rs 1,583.43 crore in the same period last fiscal, it said.
"Steep depreciation of the Indian rupee coupled with consistently high crude oil prices has led to a challenging quarter for the Indian aviation industry," Kingfisher said.
However, shares of the company were trading nearly 3 per cent higher at Rs 27.55 on the BSE during the morning trade.
The private carrier is in a financial mess and struggling to service its *****, which have run up to over Rs 6,000 crore.
02-21-2012, 11:45 AM #2
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