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GMR Airports Q3 Results | Firm swings to black, posts ₹202 crore, traffic growth drives 19% rise in revenue

GMR Airports Q3 Results | Firm swings to black, posts ₹202 crore, traffic growth drives 19% rise in revenue

GMR Airports Ltd (GAL) on Tuesday (January 28) reported a net profit of ₹202.1 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, GMR Airports posted a net loss of ₹486.4 crore, the company said in a regulatory filing.

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The company’s revenue from operations increased 19.2% to ₹2,653.2 crore as against ₹2,226.7 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA jumped 48.3% to ₹991.7 crore in the third quarter of this fiscal over ₹668.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 37.4% in the reporting quarter as compared to 30% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Delhi Airport

Passenger traffic for Q3FY25 rose to 20.3 million, marking an 8.1% year-on-year increase from 18.8 million in Q3FY24. Domestic traffic grew by 8.2% year-on-year, while international traffic rose by 7.8% year-on-year during the quarter. The airport recorded its highest-ever quarterly and monthly traffic in Q3FY25 and December 2024, respectively. For 9MFY25, total passenger traffic reached 58.6 million, reflecting a 7.6% year-on-year growth.

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Key financials for Q3FY25 showed total income at ₹1,430 crore, up 8.1% year-on-year from ₹1,323 crore in Q3FY24, driven by traffic growth. Total income for 9MFY25 stood at ₹4,097 crore, representing an 8.5% year-on-year increase. EBITDA for Q3FY25 rose 6.2% year-on-year to ₹435 crore, while for 9MFY25, EBITDA grew 3.1% year-on-year to ₹1,226 crore.

Hyderabad Airport

Passenger traffic for Q3FY25 increased significantly to 7.7 million, up by 22.1% year-on-year from 6.3 million in Q3FY24. Domestic traffic grew by 24.4% year-on-year, and international traffic rose by 11.5% year-on-year. The airport also achieved its highest-ever quarterly and monthly traffic in Q3FY25 and December 2024, respectively. For 9MFY25, total passenger traffic reached 21.4 million, reflecting a 15.3% year-on-year growth.

In Q3FY25, total income rose to ₹609 crore, marking a 22.9% year-on-year increase from ₹496 crore in Q3FY24, driven by traffic growth and tariff adjustments. For 9MFY25, total income grew 19.6% year-on-year to ₹1,761 crore. EBITDA surged 35.1% year-on-year to ₹387 crore in Q3FY25, while 9MFY25 EBITDA increased 17.4% year-on-year to ₹1,117 crore.

Also Read: MapmyIndia Q3 Results | Net profit rises 4% to ₹32 crore, subscription services surge 31%

PAT for Q3FY25 rose to ₹61 crore from ₹24 crore in Q3FY24. However, PAT for 9MFY25 decreased to ₹160 crore from ₹243 crore in 9MFY24 due to higher interest expenses, which rose to ₹172 crore in Q3FY25 and ₹507 crore in 9MFY25, following the capitalization of completed expansion projects. Additionally, the Board of Directors of GMR Hyderabad International Airport Ltd declared an interim dividend of ₹7.5 per share, amounting to a total of ₹283.5 crore.

Mopa (Goa) Airport

Passenger traffic for Q3FY25 stood at 1.2 million, remaining largely unchanged year-on-year. For 9MFY25, total passenger traffic rose 10.9% year-on-year to 3.4 million. On November 16, 2024, the airport achieved its highest ATMs per day at 126.

Total income for Q3FY25 increased to ₹124 crore, a 76.9% year-on-year rise from ₹70 crore in Q3FY24. For 9MFY25, total income more than doubled to ₹317 crore, up 105% year-on-year. EBITDA for Q3FY25 surged to ₹63 crore, compared to ₹17 crore in Q3FY24, while 9MFY25 EBITDA reached ₹144 crore, a substantial increase from ₹8 crore in 9MFY24.

Also Read: BHEL Q3 Results | Net profit zooms 124% on back of revenue surge

The airport completed a passenger capacity expansion from 4.4 million to 7.7 million. It received DGCA approval for the Apron/Airside area and secured a Consent to Operate (CTO) approval from the Goa State Pollution Control Board. Additionally, agreements were signed for the development of two hotels on approximately four acres in the City Side development area.

The results came after the close of the market hours. Shares of GMR Airports Ltd ended at ₹71.13, up by ₹0.60 or 0.85% on the BSE.

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