Earnings Review
GMR Airports Q1 consol net loss widens on higher expenses
This story was originally published at 22:01 IST on 29 July 2025
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--GMR Airports Apr-Jun consol net loss INR 2.12 bln vs INR 1.42 bln loss
--GMR Airports Apr-Jun consol revenue INR 32.05 bln vs INR 24.02 bln yr ago
--GMR Airports board OKs to issue non-convertible bonds of up to INR 60 bln
--GMR Airports Apr-Jun consol EBITDA INR 12.80 bln vs INR 10.16 bln year ago
NEW DELHI – GMR Airports Ltd. late Tuesday reported a consolidated net loss for the June quarter because of a double-digit year-on-year rise in total expenses and a near two-fold jump in tax outgo. This was despite a healthy top line, which grew for the 15th consecutive quarter.
The airport operator's consolidated net loss increased to INR 2.12 billion in the June quarter from INR 1.42 billion in the year-ago quarter. This was despite a 33% on-year rise in the company's consolidated revenue to INR 32.05 billion for the quarter. Sequentially, the company's top line rose 12% in Apr-Jun.
Total expenses of the company rose almost 22% on year to INR 34.78 billion, led by a 21% increase in its employee benefit expenses at INR 4.08 billion. The company's finance costs, which account for the largest share in its expense pie, rose 7% on year to INR 9.49 billion. Other expenses of the company rose 7% on year to INR 5.46 billion and depreciation and amortisation expenses grew almost 5% to INR 4.89 billion.
Tax outgo for the June quarter was INR 721 billion, up over 90% on year.
The company's consolidated earnings before interest, taxes, depreciation, and amortisation grew 26% on year and 14% on quarter to a record high of INR 12.80 billion, GMR Airports said in a statement. Its EBITDA margin for Apr-Jun was 51%.
The company made a one-time gain of INR 460 million during the quarter. At the same time, it suffered a non-cash forex loss of around INR 1.4 billion due to the impact of appreciation in euro, it said in a presentation to investors.
In its notice to the stock exchanges, the company said its board has approved issuance of non-convertible bonds aggregating up to INR 60 billion in one or more tranches or series on private placement basis for refinancing existing non-convertible bonds of the company.
Tuesday, shares of the company closed 0.6% higher at INR 90.22 on the National Stock Exchange. End
Edited by Ashish Shirke
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