Kingfisher Airlines reports loss of Rs 626 cr in Q3 FY09
Private air carrier, Kingfisher Airlines, said it has reported a net loss of Rs 626 crore during Q3 FY09 as against Rs 423 crore in the same quarter last year.Updated: Feb 01, 2009, 15:20 IST
Private air carrier, Kingfisher Airlines, on Sunday said it has reported a net loss of Rs 626 crore during Q3 FY09 as against Rs 423 crore in the same quarter last year.
The increase in loss in the quarter was on account of initiation costs of international operations (Rs 174 crore) and exchange rate impact of dollar denominated expenses (Rs 60 crore), the company said in a statement issued in Mumbai.
Vijay Mallya-led Kingfisher Airlines also incurred losses due to interest expenses during Q3 FY09 which increased by Rs 103 crore as compared to the same quarter last year and on account of operating costs in the quarter which included provisionS for contigencies for return of aircraft worth Rs 30 crore.
The company's net income during the period was Rs 1,447 crore as compared to Rs 1,353 crore in the same quarter in the previous year.