Private carrier Kingfisher Airlines has reduced its September quarter losses by 45 per cent to Rs 231 crore as against a loss of Rs 418.77 crore inside the exact same quarter a year ago. The airline saw a 24 per cent improvement in operating revenues, driven by a growth in aviation demand, focus on improving network profitability, and various cost reduction initiatives.
Sales have grown 24 per cent to Rs 1,382.72 crore when compared with Rs 1,112.70 crore. Meanwhile, shares in the business gained 2.06 per cent to close the day at Rs 81.65 on a Bombay Stock Exchange (BSE) on Monday.
Domestic revenues stood at Rs 1,038 crore compared with Rs 989 crore in Q2 FY10. This was a 5 per cent improve in income despite 18 per cent reduction in ability (seats offered). International revenues have been at Rs 345 crore compared with Rs 124 crore in Q2 FY10.
“This performance was despite 11 per cent reduction inside the quantity of departures. The overall EBITDA margin to your quarter improved to a certain 4 per cent inside the unfavorable 24 per cent reported inside the exact same quarter last year. These results have been delivered despite an estimated loss of more than Rs 73 crore because of unplanned grounding of aircraft. Adjusted for this loss, the EBITDA margin would be 8 per cent to your quarter,” said the airline in a filing towards BSE.
Source: Indian Express