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Wednesday October 28, 07:49 PM
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Source: Financial Express
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Kingfisher Q2 net loss narrows
Private carrier Kingfisher Airlines on Wednesday reported a net loss of Rs 418.77 crore for the quarter ended September 30, against a loss of Rs 483.25 crore in the same period corresponding fiscal.
"The company has changed its method of accounting for costs incurred on major repairs and maintenance for its engines. Had the company not changed the method of accounting, the loss for the quarter and half year would have been higher by Rs 110.02 crore," Kingfisher Airlines said in a filing to the Bombay Stock Exchange (^BSESN : 16632.01 -222.92
).
Income from operations declined to Rs 1,142.14 crore for the quarter ended September 30, down 13.64 per cent from Rs 1,322.64 crore in the same period last year.
Shares of Kingfisher Airlines were trading at Rs 47.80 on the BSE, down 0.42 per cent from its previous close.
