GMR Airports gains 4% as passenger traffic increases 9% YoY to 10.7 million

In its October update, GMR Airports said that it handled more than 10.7 million passengers across all airports which implies 9.2 per cent rise Y-o-Y

GMR Airports Infrastructure shares gained 3.7 per cent in Tuesday's trade and logged an intraday high at Rs 80.99 per share on BSE. The counter saw buying after the company reported its October passenger traffic update.

 

Around 9:36 AM, GMR Airports shares were up 2.95 per cent at Rs 80.35 per share on BSE. In comparison, the BSE Sensex was up 0.91 per cent at 78,044.15. The market capitalisation of the company stood at Rs 84,841.37 crore. The 52-week high of the stock was at Rs 103.7 per share on BSE and the 52-week low of the company stood at Rs 56.4 per share.

 

In its October update, GMR Airports said that it handled more than 10.7 million passengers across all airports which implies 9.2 per cent rise year-on-year (Y-o-Y).

 

As per the filing, the airlines handled more than 74 million passengers. Individually, Hyderabad airport's domestic traffic crossed 2 million passenger mark.

 

Total air movements increase by 9 per cent Y-o-Y to 71,598 in October 2024. 

 

The airlines handled cargo volumes of 0.65 million metric tonnes in year-to-date (Y-T-D) basis in FY25 which translates an increase of 14.8 per cent Y-o-Y. More than 1 lakh metric tonnes of cargo volumes were handled every month since September 2024.

 

Additionally, Mopa (Goa) Airport expansion work was also completed which is expected to increase passenger capacity from 4.4 million to 7.7 million.

 

GMR Airports is a prominent global airport infrastructure development and management company, part of the GMR Group, based in India. The company is involved in the development, operation, and management of airports both within India and internationally. Notable airports under its management include Indira Gandhi International Airport (IGIA) in New Delhi, which is one of the busiest and most modern airports in India, and Rajiv Gandhi International Airport (RGIA) in Hyderabad, a hub for both domestic and international flights. 

 

GMR also operates Mactan-Cebu International Airport in the Philippines and has a presence in several other countries, focusing on sustainable development, innovative technologies, and enhancing passenger experience across its airports.

 

GMR handles Indira Gandhi International Airport (IGIA) in New Delhi, and Rajiv Gandhi International Airport (RGIA) in Hyderabad. In the Philippines, the company operates Mactan-Cebu International Airport (MCIA) under a public-private partnership. GMR's international reach extends to Istanbul Sabiha Gökçen International Airport in Turkey, where the company is involved in the expansion and operation of the airport’s terminal facilities.

 

In the past one year, GMR Airports shares have 33 per cent against Sensex's rise of 17.5 per cent.