During Tuesday’s trading session, the shares of a leading global airport platform company moved up by 5.6 percent to Rs. 82.41 on BSE, after announcing Monthly Traffic Data for October 2024 with a surge in passenger traffic by 9 percent YoY to 10.7 million.
With a market cap of Rs. 86,245.7 crores, at 12:18 p.m., the shares of GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, were trading in the green at Rs. 81.68, up by nearly 4.7 percent, as compared to its previous closing price of Rs. 78.05.
What’s the news:
According to the latest filings with the stock exchanges, GMR Airports Limited announced its Monthly Traffic Data for October 2024. Passenger traffic reached 10.7 million in October 2024, reflecting a growth of 9 percent YoY and 5 percent month-on-month (MoM). Hyderabad Airport recorded the highest passenger traffic, with 2.49 million passengers, marking a 22 percent YoY increase.
GMR Airports also achieved record-breaking passenger traffic (Pax) and air traffic movements (ATMs) in YTD FY25, surpassing 74 million Pax and 0.48 million ATMs.
Hyderabad Airport set new milestones, handling its highest-ever monthly passenger traffic in October 2024, supported by strong domestic and international traffic. Domestic traffic surpassed 2 million pax, and the airport recorded the highest-ever ATMs of approximately 17,600 in October 2024.
Delhi Airport also reached a significant achievement, recording the highest-ever ATMs of around 39,000 in October 2024, the highest in the past five years.
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Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 21 percent, rising from Rs. 2,064 crores in Q2 FY24 to Rs. 2,495 crores in Q2 FY25.
In contrast, during the same period, the company’s net loss widened from a loss of Rs. 190 crores to a loss of Rs. 429 crores, representing a decline of around 126 percent YoY, due to increase in Finance Cost and Depreciation post capitalization of expansion capital expenditure.
Stock Performance:
The stock has delivered positive returns of nearly 41.6 percent in one year, while around 4.5 percent of negative returns in the last six months. So far in 2024, the shares of GMR Airports Infrastructure have given positive returns of about 2 percent.
About the company:
GMR Airports Limited (GAL) is mainly engaged in the development, maintenance and operation of airports, and construction business including Engineering, Procurement and Construction (EPC) contracting activities and providing security services.
Under the brand name “GMR AERO”, the company offers pioneering aviation solutions in retail, aero services, and real estate. Additionally, as a platform business, GAL also provides a range of aero services including Duty-Free, Retail, F&B, Cargo, Car Parking, O&M, and PMC services.
Written by Shivani Singh
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