GHIAL likely to post profit this fiscal

Riding on growth in passenger traffic, GMR Hyderabad International Airport (GHIAL) is likely to post profit for the current financial year, a top official of the company said.

"We are making cash profits from the airport operations and may post profit after tax this financial year (2009-10)," Group CFO Subba Rao told PTI.

The company will also begin repayment of loans taken for the development of the airport this year, he added.

The company is likely to post a turnover of about Rs 500 crore this fiscal against Rs 412 crore last year, he said, adding that there was an increase of 3 per cent in passenger traffic and 14 per cent jump in cargo in last three quarters.

Incidentally, the company has also requested for a hike in the User Development Fees from Rs 375 to Rs 500 for domestic passengers and from Rs 1,000 to Rs 1,300 for international passengers. The request is pending with Airport Revenues Regulatory Authority, he said.

The company had raised Rs 1,678 crore loan from a consortium of banks and financial institutions for the construction of airport besides availing of advance fund grant of Rs 315 crore and Rs 107 crore interest-free loan from the Andhra government.

"The principal repayment begins this financial year and we will pay Rs 60 crore as first installment," Subba Rao said.