Swinging into the black, GMR Airports Ltd (GAL) on Tuesday reported a profit after tax of Rs 202 crore for the three months ended December 2024. GAL, which owns the airport business of GMR Group, had posted a loss of Rs 486 crore in the year-ago period. These figures are after tax from continuing operations. In the third quarter of the current fiscal, the company's net income rose to Rs 2,081 crore from Rs 1,738 crore a year ago, according to a regulatory filing. Airports at Delhi and Hyderabad, which are under GAL, saw rising air traffic in the 2024 December quarter. At the Delhi airport, passenger traffic "increased to 20.3 million, up by 8.1 per cent YoY from 18.8 million in Q3 FY24," the filing said. GMR Group also operates Goa airport as well as two airports in the Philippines and Indonesia.
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
Hopes for significant reduction in its pledged shares upon completion of debt deal
GMR Airports is in the process of raising its stake in Delhi International Airport by acquiring the 10 per cent stake owned by Germany's Fraport
The deal comes just over a month after heavy rainfall caused the airport's roof to collapse killing one person and shutting down a busy domestic terminal
Derivatives market update for Sept 06: The Nifty PCR dipped from 0.74, while Bank Nifty to 0.78; reflecting a cautionary trend said Dhupesh Dhameja of SAMCO Securities. Max Financial see short buildup
Private equity player GQG Partners has hiked its stake in GMR Airports Infrastructure to 5.17 per cent by snapping up additional shares worth over Rs 433 crore through open market transactions. GQG Partners, also a key investor in Adani Group, purchased 0.43 per cent stake in GMR Airports Infrastructure on August 23, according to a regulatory filing on Wednesday. Prior to the transactions, GQG Partners held a 4.74 per cent shareholding in the company. Through its affiliates, Fort Lauderdale-based asset management firm GQG Partners acquired an additional 0.43 per cent or over 4.52 crore shares. At the closing price of Rs 95.85 apiece on August 23, the shares are worth more than Rs 433 crore. Earlier, GQG Partners held 7.66 per cent stake in the company but due to corporate actions, the shareholding reduced below 5 per cent, as per the filing. "On August 23, 2024, the acquirer and PACs (Persons Acting in Concert) acquired further shares of the company, resulting in their shareholdin
The increase in stock price follows GMR Airports' release of its passenger traffic data for July 2024.
GMR Airports Infrastructure shares have multiplied investors' wealth in the last two years, with a sprint of 168.70 per cent during the period, as per BSE analytics