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Kingfisher Q1 loss rises 41% to Rs 264 cr

Vijay Mallya-run Kingfisher Airlines on Tuesday said its net loss for the quarter ended June 30 widened 41 per cent to Rs 264 crore on account of higher fuel costs, even as its operating income rose to Rs 1,882 crore.

Vijay Mallya-run Kingfisher Airlines on Tuesday said its net loss for the quarter ended June 30 widened 41 per cent to Rs 264 crore on account of higher fuel costs, even as its operating income rose to Rs 1,882 crore.

During the same period last fiscal, Kingfisher - the country's second largest airline by market share - had reported a loss of Rs 187 crore on a revenue of Rs 1,641 crore.

The private carrier's passenger revenue recorded 16 per cent growth in the reporting quarter, while its non-operating revenues grew by 84 per cent to Rs 29 crore.

Rising oil prices have been eating into the margins of airlines. Vijay Mallya-promoted airline witnessed a 44 per cent rise in fuel costs in the reported quarter.

Last month, Jet Airways - the largest carrier by market share - had reported a first-quarter net loss of Rs 123 crore.

Kingfisher that carried 3.41 million passengers during the quarter, with its number of flights rising by 3 per cent to 34,627, said its earnings margin before interest, tax, depreciation and amortization shrank to 0.2 per cent from 6 per cent a year earlier.

Revenue per passenger, too, increased by 6 per cent to Rs 5,007. The airline had a fleet size of 66 as of end-June.

Kingfisher's operating profit on its domestic operations fell 71 per cent to Rs 440 crore during the April-June period.

Operating loss on international operations narrowed to Rs 400 crore from Rs 510 crore a year ago.

Domestic operating revenue rose 10 per cent to Rs 1,459 crore over y-o-y on an 11 per cent increase in passenger revenue.