Kingfisher shares down 5% as Q4 net loss widens

MUMBAI: Shares of Kingfisher Airlines on Friday tanked by nearly 5 per cent to hit the lower circuit limit as the grounded airline reported a net loss of Rs 2,141.80 crore for the quarter ended March, 2013.

Following the weak results, shares of the company tumbled 4.89 per cent to Rs 6.03 -- its lowest trading permissible limit for the day on BSE.

On NSE, the scrip slumped 4.76 per cent to touch its lower circuit limit of Rs 6.

The company, grounded since October 1 last year, had reported a loss of Rs 1,151.83 crore in the same period a year ago.

The carrier reported nil sales for the period under review as against sales of Rs 782.83 crore in the fourth quarter of FY 2012.

For the entire 2012-13, the net loss is Rs 4,001.12 crore, Kingfisher Airlines said in a filing to BSE.

The loss in the previous fiscal was Rs 2,328.01 crore. The airline has been grounded since October and its licence lapsed on December 31 last year, although it can be renewed within two years.