Others Stock

[OTHERS] Kingfisher Airlines Q1 net loss reduced to Rs 187 crore

Kingfisher Airlines has declared its first quarter results of FY11. It has reported net loss of Rs 187 crore as against loss of Rs 237 crore (YoY).

Kingfisher Airlines has declared its first quarter results of FY11 in which the private airline has posted a loss of Rs 187-crore in the Q1 FY 11 as against a loss of Rs 237-crore reported during the same period in the previous fiscal.

The company on an overall basis has incurred an EBIDTA (Earnings before income, taxes, depreciation and amortisation) profit of Rs 127-crore in QY FY 11 as against a loss of Rs 71-crore, i.e. a rise of Rs 198-crore, during the same period of the previous fiscal, the company said today.

The revenue rose 29 per cent to Rs 1,641 crore from Rs 1,273 crore (YoY).

Meanwhile, Kingfisher has witness a growth in load factor from 69 per cent to 81 per cent, i.e. a 12 percentage points increase and a five per cent growth in yields over the same quarter last year and this was on the back of a strong resurgence in domestic demand during the June quarter of the this fiscal, the company said.

However, the company posted an operating profit of Rs 127 crore in Q1 FY11, an improvement of Rs 198 crore over April-June quarter last fiscal and this was on the back of increase in loads and yields as well as several cost reduction initiatives.

Meanwhile, Kingfisher Airlines has became a member-elect of the global airline partnership - oneworld alliance, after signing a formal agreement with the 12 existing members on the sidelines of World Air Transport Summit in Berlin last month.

The air carrier had also announced that it had entered into a codeshare agreement with British Airways in order to give a boost to passenger carriage between India and UK.

A formal agreement was signed by Kingfisher chief Vijay Mallya and the top officers of all the 12 oneworld partner airlines.

Economy to grow 8.5%; Inflation to ease to 6.5% by Mar11: PMEAC

The Prime Ministers Economic Advisory Council today said that the economy will grow by 8.5 per cent as against the projected 8.2 per cent.

Moreover it said that the inflation will come down to single digit at 6.5 per cent by 2010-11 end.

Commenting on this, there was an upward revision in the growth projection and this was due to the prospects of good monsoon. He said this while releasing the economic outlook for the current fiscal. It forecast that the economy will grow to 9 per cent for 2011-12.

The council in February had projected a growth rate of 8.2 per cent for the current fiscal.

Moreover, there is expectation of moderation in the prices due to good crop and inflation to cool partly on account of the base effect and fell significantly by March 2011 as against 10.55 per cent currently.

At the same time, Pranab Mukherjee is also quite optimistic about the single digit inflation rate at 5-6 per cent in the coming months as prices of essential items have started moderating.

Commenting on this, he said ?The inflation rate of some of essential items is moderating. I am very optimistic that inflation rate will come down to a moderate level of 5-6 per cent in the coming months?.

Meanwhile, the Finance Minister Pranab Mukherjee earlier this month had informed that the government will continue take necessary measures to get the economy back on track to report 9 per cent growth path an increase from 7.4 per cent growth reported during 2009-10 and then further posting double digit growth in coming years.

Finance Minister who was at an event organized by UTI in Mumbai said that, he would not say that country is completely recovered from the impact of global economic crisis but government would continue its effort to put back GDP growth on track and attain a growth of 9 per cent and further surpass the double digit barrier in future.

Source: Dalal Street Investment Journal
Quotes are delayed at least 15 minutes. Stock charts are updated at the end of the trading day. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Tradesignum is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Tradesignum website, you agree not to redistribute the information found herein.