Kingfisher 2QFY2010 revenue down 12.1%, continues to make big losses

Kingfisher revenue down 12.1% - financial highlights:

Three months ended 30-Sep-2009:

• Revenue: USD248.2 million, -12.1% year-on-year;
• Total costs: USD330.3 million , -69.6%;
  • Fuel: USD102.7 million, -41.5%;
  • Aircraft lease rentals: USD60.0 million, -2.3%;
  • Labour: USD-17.6%;
• Operating profit (loss): (USD82.1 million), compared to a loss of USD132.4 million in the previous corresponding period;
• Profit (loss) before tax: (USD139.1 million), compared to a loss of USD154.0 million in the previous corresponding period;
• Profit (loss) after tax: (USD89.4 million), compared to a loss of USD103.2 million in the previous corresponding period;

Six months ended 30-Sep-2009:

• Revenue: USD518.0 million, -10.8%;
• Total costs: USD632.8 million, -33.9%;
  • Fuel: USD186.8 million, -48.9%;
  • Aircraft lease rentals: USD123.6 million, +7.6%;
  • Labour: USD77.3 million, -10.0%;
• Operating profit (loss): (USD114.8 million), compared to a loss of USD150.9 million in the previous corresponding period;
• Profit (loss) before tax: (USD211.7 million), compared to a loss of USD194.4 million in the previous corresponding period;
• Profit (loss) after tax: (USD140.3 million), compared to a loss of USD136.9 million in the previous corresponding period. [more]
• *Based on the conversion rate at USD1 = INR46.825

Kingfisher: "Coming into the industry's peak quarter, the company expects to show higher guest numbers and much stronger yields in 3QFY2010," Company statement. Source: Kingfisher, 28-Oct-2009.