GMR Airports stock price rises after July passenger traffic jumps 8% YoY

GMR Airports in focus: Shares of GMR Airports surged as much as 2.13 per cent on Monday, August 19, 2024, reaching an intraday high of Rs 97.85 per share. 

The increase in stock price follows GMR Airports' release of its passenger traffic data for July 2024.

Passenger traffic in July 2024 saw an 8 per cent year-on-year (Y-o-Y) increase to 10,620,565 passengers. Domestic traffic grew 7.1 per cent Y-o-Y, while international traffic rose 9.3 per cent during the same period.

Since December 2023, passenger traffic has consistently exceeded 10 million passengers per month, according to GMR Airports.

Notably, the Mopa (Goa) airport experienced the most major growth, with a 21 per cent Y-o-Y increase, bringing its total to 334,655 passengers.

Delhi Airport

In July 2024, Delhi Airport's passenger traffic surpassed 6.3 million, reflecting a 7.7 per cent Y-o-Y growth. Notably, the airport has maintained passenger traffic above 6 million per month since October 2023. 

GMR Airports also revealed that the new Terminal 1 is now operational.

Hyderabad Airport

Passenger traffic at Hyderabad Airport reached over 2.2 million in July 2024, marking a 12.8 per cent Y-o-Y increase. The airport has consistently handled more than 2 million passengers monthly since October 2023, GMR Airports said. 

Additionally, GMR Hyderabad International Airport has introduced the Sunflower Program to enhance assistance for travellers with invisible disabilities.

Founded in May 1996 in Andhra Pradesh as Varalakshmi Vasavi Power Projects, the company changed its name to GMR Vasavi Infrastructure Finance in 1999 and later to GMR Airports Infrastructure.

GMR Airports specialises in the development, maintenance, and operation of airports, power generation, coal mining and exploration, highway development, and the management of special economic zones (SEZs). The company is also involved in construction and Engineering, Procurement, and Construction (EPC) contracting activities.

At 9:35 AM, shares of GMR Airports were trading 0.89 per cent higher at Rs 96.65 per share. In comparison, BSE Sensex was trading 0.16 per cent higher at 80,567.25 levels.