Shares of GMR Airports Infrastructure gained more than a percent on June 7 after its subsidiary divested a warehouse facility. GMR Hyderabad International Airport, which is a subsidiary of GMR Airports Infrastructure, has sold a warehouse facility at Hyderabad Airport, the company said in an exchange filing.
The buyer of the facility is ILP Core Ventures I PTE, a subsidiary of Indospace Core PTE Limited, which is India's largest operator of logistics and industrial real estate, it added.
GMR Hyderabad International Airport completed the transaction with ILP Core Ventures I PTE at a value of Rs 188.1 crore, as per the filing.
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At 09:18 am, stock of GMR Airports Infrastructure quoted Rs 41.88, up 0.62 percent. The scrip has fallen around 8 percent in the past one month but is up 14 percent in the past one year.
The airport developer reported net loss for the March quarter at Rs 441.47 crore from a loss of Rs 141.28 crore posted in the corresponding quarter of the previous fiscal year. Despite the loss, GMR recorded a significant increase in revenue from operations, reaching Rs 1,894.62 crore, a growth of 47.6 percent compared to the Rs 1,283.60 crore logged in the fourth quarter of FY22.
GMR Airports Infrastructure is engaged in development, operation and maintenance of airports along with offering integrated security solutions.
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