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Kingfisher Airlines dips as Q3 losses widen

Q3 net loss at Rs 755 crore mainly due to finance cost of Rs 401 crore and a one-time cost of Rs 275 crore due to re-delivery of aircraft.

Read more on:    Dgca | Vijay Mallya | Kingfisher Airlines
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has dipped 4% to Rs 12.04 after reporting a net loss of Rs 755 crore for the December 2012 (Q3) quarter of the current fiscal mainly due to finance cost of Rs 401 crore and a one-time cost of Rs 275 crore due to re-delivery of aircraft. The Vijay Mallya-led Kingfisher Airlines had posted a net loss of Rs 444 crore during the same period previous quarter
 
“The company did not have any operations during the quarter under review,” Kingfisher Airlines said in a statement.
 
The company submitted a revival/restart plan to the Directorate General of Civil Aviation (DGCA) for renewal of its scheduled operator’s permit and for restart of operations, it added.
 
Meanwhile, the company has reported a cumulative net loss of Rs 2,160 crore for the first nine months ended December 2012 compared to  Rs 1,176 crore in the same period last year.
 
The stock opened at Rs 13.50 and hit a low of Rs 11.75 on NSE. A combined 5.61 million shares have changed hands on the counter so far on both the exchanges.
 

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