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