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Posted by Levasto India
Kingfisher Air loss widens to Rs 651 cr in first quarter
Mumbai: The net loss of debt-ridden Kingfisher Airlines widened to Rs 651 crore for the quarter ended June 30, 2012, from Rs 264 crore a year ago.
Impact of high fuel cost, high interest rate, rupee depreciation and extraordinary expenses on account of return of aircraft to the lessors and costs associated with non-operating aircraft resulted in the loss, the airline said in a filing to the Bombay Stock Exchange (BSE).
Revenue dropped to Rs 301 crore in the April-June quarter from Rs 1,907 crore in the corresponding quarter last year.
On Friday, shares of the airline tanked by over 11 per cent and closed at Rs 7.40 on the BSE. Intra-day, the scrip plunged 12.6 per cent to a record low of Rs 7.27.
