GMR Airports Infra rallies on strong passenger traffic in May

GMR Airports Infrastructure rose 4.15% to Rs 97.80 after the company reported strong monthly traffic data in May 2024.

Passenger traffic across all GMR Airports increased by 7% year-over-year (YoY) in May 2024. This translates to over 10.8 million passengers handled.

During the month, domestic traffic grew by 5% YoY, while international traffic saw a significant increase of 17% YoY.

Delhi Airport handled the second-highest monthly passenger traffic ever recorded at around 6.5 million passengers (+8% YoY). Hyderabad Airport handled the highest ever monthly traffic at around 2.4 million passengers (+11% YoY).

Aircraft movements also increased by 6% YoY in May 2024, totaling over 69,055 movements.

GMR Airports is the largest private airport operator in Asia and 2nd largest in the world. GMR Airports, a subsidiary of GMR Airports Infrastructure [formerly known as GMR Infrastructure] (GIL) has Groupe ADP as its strategic partner, which is holding a 49% stake. GMR Airports operates the iconic Delhi Airport, which is the largest and fastest-growing airport in India. It also runs Hyderabad Airport, a pioneering greenfield airport known for several technological innovations. The company also operates Manohar International Airport, Goa (Mopa), which is Indias first destination Airport.

On a consolidated basis, GMR Airports Infrastructure reported net loss of Rs 120.97 crore in Q4 March 2024 as against net loss of Rs 441.47 crore in Q4 March 2023. Net sales rose 29.48% YoY to Rs 2446.78 crore in Q4 March 2024.

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