GMR Airports’ shares rose 3% to ₹73.28 on the BSE on Wednesday as India’s airport developer turned a corner, posting a ₹202.1 crore net profit for Q3 FY25 from a ₹486.4 crore loss in Q3 FY24.
Better operations and a rise in passenger traffic at Delhi, Hyderabad, and Mopa airports helped the changeover.
Revenue from operations rose 19.2% YoY to Rs 2,653.2 crore from Rs 2,226.7 crore in Q3 FY24, mainly due to increased passenger numbers and tariff adjustments. Spending rose to Rs 1,661.5 crore in the year from Rs 1,558.1 crore due to the capitalization of the company’s expansion programs.
EBITDA stood at Rs 991.7 crore, up 48.3% YoY from Rs 668.6 crore for the same period last year, and the EBITDA margin expanded to 37.4% from 30%.
It serves many domestic airports, including Delhi, Hyderabad, and finally, Mopa Goa; the international operations include Medan in Indonesia, Cebu in the Philippines, and Crete in Greece.
The segment was driven by increases in both passengers at the airports and revenue from Delhi and Hyderabad airports, as well as from the relatively recently operational Mopa airport in Goa.
On Tuesday, GMR announced that passenger traffic in Delhi Airport (DIAL) rose by 8.1 percent to 203 million. It led to enhanced revenue of Rs 1,430 crore against Rs 1,323 crore and EBITDA up by 6.2% at Rs 435 crore.
Passenger Traffic Growth
A key driver of GMR Airports’ impressive performance was the increase in passenger traffic. The company reported that total passenger numbers rose to 20.3 million, marking an 8.1% year-on-year increase from 18.8 million in Q3 FY24. Domestic traffic grew by 8.2%, while international traffic saw a rise of 7.8% during the same period.
The Delhi International Airport (DIAL) was a major contributor to this growth, with passenger traffic increasing significantly and revenue climbing to ₹1,430 crore, up from ₹1,323 crore in the previous year. DIAL’s EBITDA also rose by 6.2% to reach ₹435 crore.