GMR Airports Infrastructure reduces loss to Rs 190 crore in Q2

GMR Airports Infrastructure reduces loss to Rs 190 crore in Q2

GMR Airports Infrastructure Ltd (GIL) on October 30 reported its consolidated net loss reduced to Rs 190 crore in the July-September quarter of the current fiscal year. The company had reported a net loss of Rs 197 crore in the quarter ended September 30, 2022.

Company's net income during the reporting quarter rose 25 per cent to Rs 1,607 crore against a net income of Rs 1,285 crore achieved in the second quarter of previous fiscal, GIL said in a statement. The total passenger traffic increased by 25 per cent year-on-year to 26.5 million in the July-September period, the company said.

EBITDA (earnings before interest, taxes, depreciation and amortisation) during the September quarter grew by 34 per cent year-on-year to Rs 848 crore, it said. According to GIL, passenger traffic at Delhi airport increased to 17.7 million, up 18 per cent YoY from 15 million in the corresponding quarter of FY23. Domestic traffic witnessed a 16 per cent YoY growth, while international traffic rose by 22 per cent YoY in Q2FY24.

Similarly, passenger traffic at Hyderabad increased to 6 million during the reporting quarter from 4.9 million in the same quarter of previous fiscal, thereby logging a 24 per cent growth, the company said. Of this, domestic traffic grew 24 per cent y-o-y and international traffic increased 23 per cent year-on-year during the September quarter of this fiscal, it said.