GMR Airport Infrastructure gains on 23% surge in Sept passenger traffic

In June 2023, GMR Airports Infra reported standalone net sales at Rs 66.77 crore up 185.34 percent from Rs. 23.40 crore in June 2022.

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Shares of GMR Airports Infrastructure gained over a percent on October 13, a day after the company announced a 23 percent on-year growth in passenger traffic. At 10:40am, the stock was quoting at Rs 59.25, up 0.4 percent from previous close.

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According to a monthly update, GMR Airports Infrastructure Limited recorded a 23 percent on-year growth in passenger traffic and 4 percent decline, month-on-month, to  94.16 lakh for September. For the same period, aircraft movements grew 14 percent on-year and declined 4 percent on-month to 62,230.

Delhi Airport saw the maximum passenger traffic at 58,02,348, a 14 percent on-year increase, followed by Hyderabad at 1,969,753, up 21 percent and Goa's MOPA at 10 percent rise to 326,952 passengers in September. The MOPA airport opened in December 2022. According to the filing, Delhi Airport reached the milestone of handling highest ever half-yearly passenger traffic by crossing 3.5 million passenger mark in H1FY2024. Hyderabad Airport also reached the milestone of handling the highest ever half-yearly passenger traffic by crossed 1.2 million passenger mark in H1FY2024.

Also read: Global Investors Summit 2023: GMR Group to invest Rs 5,000 crore on Bhogapuram Airport in Andhra pradesh

GMR Airports Infrastructure is a subsidiary of GEPL (GMR Enterprises Private Limited). In June 2023, GMR Airports Infra reported standalone net sales at Rs 66.77 crore up 185.34 percent from Rs. 23.40 crore in June 2022. Net profit for the same period grew 144.61 percent from Rs. 21.14 crore in June 2022. EBITDA for the period was Rs. 65.51 crore in June 2023 from Rs. 3.71 crore in June 2022. The company is yet to announce its Q2FY24 results.

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