Mumbai, Aug 12: Cash-strapped Kingfisher Airlines Saturday reported a net loss of Rs.650.78 crore for the quarter ended June 30, 2012 from a loss of Rs.1,151 crore in the corresponding period of 2011-12.
?The company said in a statement that the impact of high fuel cost, high interest rate, expenses on account of return of aircraft to the lessors were the reasons for the staggering loss for the quarter under review.
?The company's scrip had plummetted by 11 percent Friday as the share price closed at Rs.7.40 as investors were apprehensive about the quantum of quarterly losses the company was about to report on Saturday.
?The company's income in the first quarter stood at Rs.301.38 crore, down 60.49 percent from Rs.762.82 crore it earned in the like period of 2011-12.
?Fuel consumed in the quarter under review cost the airline Rs.232.78 crore, down 57.29 percent from Rs.545.12 crore. The fuel costs came down as the company has been operating lesser flights than in the corresponding quarter of last fiscal.
?Aircraft rentals stood at Rs.57.02 crore, down 43.04 percent from Rs.100.11 crore in rent it paid in the first quarter of 2011-12. The company said that its finance lease obligation outstanding with respect to certain aircraft as of June 30, 2012 stood at Rs.234.62 crore
?Employee pay outs were also lower at Rs.58.88 crore, down 57 percent from Rs.136.96 crore worth of compensation the company paid its employees in the corresponding quarter of last fiscal. IANS
Lastupdate on : Sun, 12 Aug 2012 21:30:00 Mecca time
Lastupdate on : Sun, 12 Aug 2012 18:30:00 GMT
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Source: http://www.greaterkashmir.com/news/2012/Aug/13/kingfisher-airlines-posts-rs651-cr-q1-loss-9.asp
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