Mumbai: Flagging concern over the financials of Kingfisher, its auditors have said the carrier's second- quarter net loss would have been much higher, at about Rs 1,032 crore, had it followed "generally accepted accounting standards" for certain income and expenses.
The carrier today posted net loss of Rs 754 crore for the fiscal's second quarter ended September 30 - a widening of 61 per cent from Rs 469 crore in the year-ago quarter - taking its accumulated losses to close to Rs 9,000 crore.
In their 'limited review report' for its second quarter results, the auditors said the losses would have been Rs 1,031.77 crore if their certain "observations" about the company's accounting procedures had been considered.
08/11/12 PTI/Economic Times
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The carrier today posted net loss of Rs 754 crore for the fiscal's second quarter ended September 30 - a widening of 61 per cent from Rs 469 crore in the year-ago quarter - taking its accumulated losses to close to Rs 9,000 crore.
In their 'limited review report' for its second quarter results, the auditors said the losses would have been Rs 1,031.77 crore if their certain "observations" about the company's accounting procedures had been considered.
08/11/12 PTI/Economic Times
