Mumbai : Auditors of grounded Kingfisher Airlines said the company’s financial results for the quarter ended December 31, 2013, are not in accordance with the “generally accepted accounting standards”. Kingfisher Airlines reported a net loss of Rs 822.42 crore for the third quarter ended December.
With planes remaining on the ground, the airline had nil sales in the reporting quarter, similar to zero sales a year ago.
The auditors, B K Ramadhyani & Co, said the accounting method used by the airline to calculate costs incurred on maintenance and repairs of aircraft was “not in accordance with generally accepted accounting standards prevalent in India.”
Navi Mumbai News: JNPA Workshop Strengthens Dock Safety And Hazardous Chemical Handling Preparedness
CGPSC SSE Recruitment 2025: Registration Window Starts; Check Selection Process Here
Navi Mumbai Thalassemia Drive Tests 1,234 Individuals, Sensitises 1,577 Students Across Schools And Colleges
Lok Sabha Clears Resolution To Elect 2 Members To IISc Bengaluru Council
