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Informist, Thursday, Oct. 24, 2024

 

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--GMR Airports Jul-Sept consol net loss INR 2.80 bln vs INR 910.3 mln loss 
--GMR Airports Jul-Sept consol revenue INR 24.95 bln vs INR 20.64 bln yr ago 
--GMR Airports: Board OKs raising up to INR 15 bln via non-convertible bonds 
--GMR Airports Apr-Sept consol net loss INR 4.22 bln vs INR 1.21 bln loss 
--GMR Airports Apr-Sept consol revenue INR 48.98 bln vs INR 40.81 bln yr ago 
--GMR Airports: One-time income of INR 1.09 bln in Jul-Sept 
 

 

By Apratim Sarkar

 

MUMBAI – GMR Airports and Infrastructure Ltd. reported a consolidated net loss for the seventh consecutive quarter. The loss came despite a one-time income of INR 1.09 billion. The company saw revenue grow sequentially in Jul-Sept after it reported a decline in Apr-Jun.

 

 

Before the June quarter, the company had posted an on-quarter growth in revenue for eight consecutive quarters.   

 

The company's consolidated net loss attributable to owners widened to INR 2.8 billion in the September quarter from INR 910 million a year ago. The company's revenue for the latest quarter was INR 24.96 billion, up 20.9% on year from INR 20.64 billion. The company's revenue rose 3.9% sequentially. 

 

The company's total income of INR 25.98 billion in September quarter was up 20.2% on year from INR 21.62 billion. The other income of the company for the latest quarter fell 14.6% sequentially to INR 1.03 billion. 

 

Total expenses of the company for the latest quarter were INR 16.36 billion, up 22.4% on year from INR 13.37 billion. The company's total expenses also rose sequentially by 8.6% from INR 15.06 billion a qaurter ago. The finance costs of the company for the September quarter were INR 10.31 billion, up 53.3% on year from INR 6.73 billion. The other expenses of the company for the latest quarter grew to INR 5.13 billion from INR 4.16 billion from a year-ago period.

 

The company said it will raise funds up to INR 15 billion in one or more tranches through the issue of non-convertible debentures.  

 

GMR Airports' gross income increased 20% on year to INR 26 billion for the latest quarter and sequentially rose 3%. The company's earnings before interest, taxes, depreciation and amortisation for the latest quarter increased to INR 9.62 billion from INR 8.25 billion in the year-ago period. The EBITDA margin during the quarter shrunk slightly to 49?ter remaining at 52% in the previous quarter as well as in the year-ago period. 

 

The company said its passenger traffic continues to maintain strong momentum and reached record highs. The company's passenger traffic for the latest quarter increased 8% on year to 31.5 million and rose at the same pace during the six months ended September to INR 63.3 million. Its Goa airport saw a 16% on-year increase in its domestic traffic to 1.04 million, Hyderabad airport saw a jump of 14% to 6.9 million, and Delhi airport witnessed an 8% increase to 19 million. 

 

The company released its quarterly results after market hours Thursday and the stock closed 0.4% higher at INR 82.52 on the National Stock Exchange.  End

 

Edited by Deepshikha Bhardwaj

 

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