Kingfisher’s net loss at Rs 626 crore

Mumbai: Kingfisher Airlines sees its net income rising to Rs 1,447 crore in the third quarter of this fiscal compared to Rs 1,353 crore in the same quarter of the previous year. The Vijay Mallya-controlled airline quoted the DGCA numbers to claim that it is now India’s largest domestic airline.
However, the net losses of Kingfisher Airlines widened to Rs 626 crore in the third quarter of FY09 from Rs 423 crore in the same quarter of the previous year, following international operations’ initiation costs of Rs 174 crore and exchange rate dollar-denominated expenses amounting to Rs 60 crore. Kingfisher started international operations last September.
These account for less than 10% of the airlines’ topline, the company said in a media release. The country’s second largest private airline’s interest expenses increased by Rs 103 crore in Q3 FY09 compared to the same quarter last year and covered the return of aircraft worth Rs 30 crore. The shares of Kingfisher Airlines gained by 6.86% on the BSE to end at Rs 35.05 on Friday.
02/02/09 Economic Times

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Categories: kingfisher Feb 2009