GoAir reports a profit, thanks to accounting policy changes

Dino D'Amore
By Dino D'Amore November 11, 2013 18:09

GoAir reports a profit, thanks to accounting policy changes

GoAir has reported a profit of Rs 104.34 crore during the 2013 financial year compared with the Rs 133.72-crore loss in the previous year, but this was due to changes in accounting policies with respect to aircraft lease rentals. Under previous policies, GoAir would have reported an annual loss of Rs 79.28 crore.

Operating revenue was up by 43.4% to Rs 2,095 crore and its total revenue was Rs 2,132.94 crore. Total expenses rose nearly 30% to Rs 2,146 crore, with fuel accounting for nearly half the expenses. GoAir’s fuel bill rose 31%.

The airline reported a Rs 78.70 crore earnings before interest, tax, depreciation and amortisation (Ebitda) in FY13 against an Ebitda loss of Rs 52.60 crore in the previous year. It made a pre-tax profit of Rs 147 crore, compared with a pre-tax loss of Rs 183 crore in FY12.

Dino D'Amore
By Dino D'Amore November 11, 2013 18:09
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