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Informist, Friday, May 23, 2025

--GMR Airports Jan-Mar consol net loss INR 2.38 bln vs INR 1.21 bln loss 

--GMR Airports Jan-Mar consol revenue INR 28.63 bln vs INR 24.47 bln yr ago 

--GMR Airports FY25 consol net loss INR 3.93 bln vs INR 5.59 bln loss 

--GMR Airports FY25 consol revenue INR 104.14 bln vs INR 87.55 bln year ago 

--GMR Airports Jan-Mar consol EBITDA INR 11.23 bln, up 19% on year 

--GMR Airports FY25 consol EBITDA INR 41.88 bln, up 22.5% on year 

--GMR Airports Jan-Mar total passenger traffic 31.5 mln, up 9% on year 

By Arya S. Biju

MUMBAI - GMR Airports Ltd. reported a consolidated net loss for the March quarter as a near three-fold year-on-year jump in tax expenses coupled with higher total expenses offset a double-digit on year rise in its top line. This came after the company showed signs of a recovery in the previous quarter, when it reported a net profit after seven straight quarters of net loss.

The airport operator's consolidated net loss widened on year to INR 2.38 billion from the INR 1.21 billion net loss reported in the year-ago quarter. This was despite the company reporting its highest revenue in about nine years. Its consolidated revenue rose 17% on year to INR 28.63 billion, marking the 12th consecutive quarter of on-year growth. Sequentially, the revenue was up over 8%. The company had a one-time income of INR 900.6 million for the March quarter. However, this was lower than the INR 1.01 billion reported in the year-ago quarter, and INR 4.09 billion reported in the December quarter.

The company's total expenses for the latest quarter rose over 15% on year to INR 33.01 billion. Its finance costs for the quarter rose over 16% on year to INR 9.55 billion. The depreciation and amortisation expenses rose 21% on year to 4.91 billion and staff costs rose nearly 11% on year to INR 3.94 billion during the March quarter. Expense related to revenue share payable to concessionaire grantors for the quarter rose nearly 28% on year to INR 7.75 billion.

The company's tax expense for the quarter nearly tripled on year to INR 568.2 million. Sequentially, this was up nearly 29%. During the latest quarter, the company also incurred a foreign exchange loss of INR 26.1 million.  

For the financial year ended March, the company reported a consolidated net loss of INR 3.93 billion, lower than the INR 5.59 billion net loss reported in the previous year. Its revenue for the period was INR 104.14 billion, up nearly 19% on year. 

The company's consolidated earnings before interest, tax, depreciation, and amortisation for the March quarter was INR 11.23 billion, up 22% on year. For 2024-25 (Apr-Mar), the company reported an EBITDA of INR 41.88 billion, up over 22% on year. Operating profit margin for the March quarter expanded to 39.21% from 38.43% reported in the year-ago quarter.

Total passenger traffic of GMR Airports-owned airports rose 9% on year to 31.5 million in the quarter. In FY25, the total passenger traffic at the company-owned airports was 120.5 million, up 9% on year. 

The company announced its March quarter earnings late Thursday. At 0922 IST, shares of the company traded at INR 87.30 on the National Stock Exchange, down 2%.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Vandana Hingorani

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