GMR Airports shares rally 5.4% as passenger traffic in October rises 9% YoY

Both domestic and international traffic was up 9.2% YoY. 

GMR Airports said that passenger traffic has been transcending sustainably above 10 million passengers every month since December 2023. 

It further said that GMR Airports handled the highest-ever passenger traffic as well as air traffic movements (ATMs) in YTD FY25. It crossed 74 million passengers and 0.48 million ATMs. 

In October, GMR Airports Ltd (GAL) reported a narrowing of its loss to ₹429 crore for the quarter ended September 30, 2024 (Q2 FY25).

The company's total comprehensive income in the year-ago period stood at ₹190 crore, according to a release.

These are losses after tax from continuing operations. 

GMR Airports said the total income from continuing operations rose to ₹2,598 crore from ₹2,162 crore in the same period a year ago.

During the September quarter, the company's interest and finance charges rose to ₹1,031 crore. In the year-ago period, it stood at ₹673 crore.

The company holds the airport business of the GMR Group.

Currently, the group operates airports in Delhi, Hyderabad, Goa, Indonesia, and the Philippines. It is also developing a few other airports.

While mentioning various major developments, the release said the GMR promoter group executed an agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for securing ₹6,300 crore in structured debt funding instruments. The pact was signed on October 23.