Kingfisher net plunges 74% in Q3

Vijay Mallya's cash-strapped Kingfisher Airlines has posted a net loss of 24.8% to Rs 444 crore for the quarter ending December 31, 2011.

The company's revenues also dropped 15.2% to Rs 13.42 crores.

However, shares of the company were trading at Rs 27.10 up Rs 0.35 or 1.31%.

"Steep depreciation of the Indian rupee coupled with consistently high crude oil prices has led to a challenging quarter for the Indian aviation industry," the airline said in a statement.

The world seems to be a big sky of troubles for cash-strapped Kingfisher airlines, which used to once be India's second largest airline seems buried in trouble.

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