Kingfisher Air stock crashes 6%

Company reported net loss of 40.66% at Rs 263.54 cr.

Kingfisher Airlines on Thursday tumbled over six per cent intraday to its one-year low after the company reported a net loss of 40.66 per cent at Rs 263.54 crore for the quarter ended June 30,2011.

The company shares tanked 6.26 per cent to a 52-week low of Rs 29.90 before recovering somewhat and closing 5.64 per cent lower at Rs 30.10 on the BSE.

Similarly,the scrip closed 5.80 per cent down at Rs 30.05 a piece on the NSE.

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On the volume front,over 22 lakh shares of the company changed hands on the bourses during the day.

Kingfisher Airlines yesterday said its net loss has widened by 40.66 per cent at Rs 263.54 crore for the quarter ended June 30,2011,mainly due to increased fuel expenses. The company had reported a net loss of Rs 187.35 crore during the corresponding quarter of last fiscal.

Meanwhile,the BSE key index Sensex ended 71.11 points lower at 17,059.40.

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