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Vijay Mallya’s Kingfisher Airlines’ quarterly net loss widens to Rs 1,156.91 cr

Kingfisher said net loss was Rs 11.57 bn ($189.4 mn) for the three months to end-June.

Written by PTI | New Delhi | Published: August 14, 2013 4:28:44 pm

Vijay Mallya’s Kingfisher Airlines Ltd,grounded since October last year,today reported net loss at Rs 1,156.91 crore for the quarter ended June 30,2013.

The company had reported a net loss of Rs 650.78 crore in the same period a year-ago,Kingfisher Airlines said in a filing to the BSE.

The carrier reported nil income for the period under review as against income from operations of Rs 301.38 crore in the same quarter last year.

Shares of the company,however,ended the day 4.96 per cent higher at Rs 4.02 on the BSE.

Kingfisher had never made profit since it started operations in 2005.

Kingfisher Airlines has been grounded since October 1 last year after a labour unrest due to non-payment of salaries which have not been paid since last May.

A lender consortium led by State Bank of India has recovered around Rs 550 crore by selling shares of the troubled airline company.

The consortium has taken possession of Kingfisher House,the corporate office of now defunct Kingfisher Airlines which owes about Rs 7,000 crore to its lenders.

Flightless Kingfisher Airlines net loss widens

(Reuters) Grounded Indian carrier Kingfisher Airlines Ltd reported on Wednesday yet another quarterly loss as it had no income from operations.

Cash-strapped Kingfisher Airlines,which has not flown since last October,said net loss was 11.57 billion rupees ($189.4 million) for the three months to end-June,compared with a net loss of 6.51 billion Indian rupees reported in the year-ago quarter.

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