| What Affected Kingfisher Airlines Stocks |
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| Written by Sumedh Inamdar |
| Tuesday, 20 July 2010 09:52 |
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A man that acquired Whyte & MacKay as he was not permitted to brew scotch whiskey outside of Scotland, bought his own Formula 1 and IPL teams, Force India and Royal Challengers Bangalore respectively, is known for his lavish lifestyle. He owns yachts, private jets, beach villas at exotic locations to entire islands. But he seems to be doing something right to have cut losses in a year which saw the liabilities side of the Jet Airways balance sheet go up.
A man that acquired Whyte & MacKay as he was not permitted to brew scotch whiskey outside of Scotland, bought his own Formula 1 and IPL teams, Force India and Royal Challengers Bangalore respectively, is known for his lavish lifestyle. He owns yachts, private jets, beach villas at exotic locations to entire islands. But he seems to be doing something right to have cut losses in a year which saw the liabilities side of the Jet Airways balance sheet go up. India's second biggest airline by traffic is KingfisherAirlines. Kingfisher Airlines reported a net loss of Rs. 1,647.22 towards the end of May 2010. Looking at their figures of Rs. 2,139.65 for the previous year, this can be considered quite an improvement. A reduction by 23.1% in losses for the new year came about even as the company sales dropped by 3.26% in 2010, showing that India's liquor baron is doing something right. Share prices of Kingfisher Airlines rose to a 12 month high of Rs. 44.85 in early June, 2010 from a yearly low 39.20 on the 26th of May, 2010. One of the main reasons for this that the company managed to increase their income by 60% to touch Rs. 203.12 crore in 2010. They also managed to reduce operating losses by Rs. 1,000 crore. They also mentioned that from their total current losses, Rs. 400 crore amounted to only one time losses that would not be incurred again. These included premature termination of aircraft lease, foreign exchange losses and general clean up after the integration of Air Deccan. Jet Airways on the other hand, India's largest passenger air carrier increased its losses by over 15% to Rs. 467.64 crore in 2010. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Moneyvidya.com is an Indian startup that helps you choose the best share tips for NSE/BSE. It is done by tracking the performance of all the market analysts on several parameters like profits and consistency. |
| Last Updated on Monday, 26 July 2010 17:47 |