GMR Airports rallies 15% in 1 month, stock at multi-year high; here's why

GMR Airports stock outlook: As the company entered quarter 3, historically the strongest quarter for travel and tourism, the management remains confident in the sector's trajectory.

GMR Airports share price today

 

Shares of GMR Airports hit a multi-year high of ₹105.50, gaining 2 per cent on the BSE in Friday’s intra-day deals on the back of heavy volumes. Till 01:22 PM; a combined 26.85 million equity shares changed hands on the NSE and BSE. In comparison, the BSE Sensex was down 0.3 per cent at 85,378.

 

In the past one month, the stock price of GMR Airports outperformed the market and rallied 15 per cent, as against 1 per cent rise in the BSE Sensex. The market price of the company engaged in airports & airport services business had hit a record high of ₹131.81 on December 6, 2007.

 

What’s driving GMR Airports stock price?

 

GMR Airports reported its first profit before tax (PBT) in more than three years. The company posted a consolidated PBT of ₹103 crore for the quarter ended September 2025 (Q2FY26). It had posted a net loss of ₹386 crore in the same quarter of 2024 and loss of ₹65 crore in Q1FY26.

 

Momentum in total income continued with Q2 at ₹3,750 crore, up 45 per cent year-on-year (YoY) driven by revised tariffs at Delhi airport which has been effective from mid-April, takeover of Delhi duty-free and cargo businesses by GMR Airports and sustained growth at Hyderabad airport translating to earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 59 per cent year-on-year to ₹1,530 crore. Reported margins improved to 53 per cent from 51 per cent in Q1FY26 and 49 per cent in Q2FY25.

 

GMR Airports posted a profit after tax of ₹35 crore in Q2FY26, against a net loss of ₹429 crore in Q2FY25 and ₹137 crore in Q1FY26.

 

The fundamentals of air travel remain strong and intact. India continues to rise as a global aviation powerhouse, now the world's 5th largest aviation market. The Mumbai-Delhi corridor ranked 7th amongst the top 10 busiest routes globally in 2024 and the international carriers are doubling down on India's potential. 

 

Emirates, Etihad, Malaysian Airlines all reported robust demand for premium travel to and from India. IndiGo's expansion into long-haul and business class segments further signals confidence in sustained growth. Outbound tourism is booming. As per a report released by Research and Markets, India's outbound tourism market is forecasted to grow at compound annual growth rate (CAGR) of 12.3 per cent from 2025 until 2033.  

 

Starting October 2026, IndiGo will launch daily flights to London and introduce Business Class on key regional routes. Their recent order of 30 additional Airbus 350s doubling their wide-body fleet underscores the long-term optimism in Indian aviation, GMR Airports said in the Q2 earnings conference call.

 

As the company entered quarter 3, historically the strongest quarter for travel and tourism, the management remains confident in the sector's trajectory. Demand is not just returning, it is evolving, expanding and elevating, the company said.

 

In addition to airport concessions, GMR Airports is actively scouting for asset light Operations and Management (O&M) opportunities along with opportunities in airport adjacencies. As part of the stated strategy, the Company has been working towards capturing a greater part of the airport value chain by tapping into opportunities in airport adjacent businesses like cargo, duty free, car park, Food & Beverage (F&B), services businesses etc. 

 

After taking over Delhi duty-free concession on 28 July, GMR Airports also took over the operations of duty-free at Hyderabad airport and started operations from 10th September. GMR airports financials have already started reflecting the upsides from the above transactions and the full quarter impact will be seen in Q3.