GMR Airports slides on reporting dismal Q1 numbers

Revenue from operations increased 19.06% year on year (YoY) to Rs 2,402.20 crore during the June 2024 quarter.

Pre-tax loss stood at Rs 299.73 crore in first quarter of FY25 as against profit before tax of Rs 112.44 crore posted in same quarter last year.

EBITDA stood at Rs 1,016.35 crore in June 2024 quarter, registering a growth of 18.14% YoY. EBITDA margin improved to 52% as compared to 55% reported in the corresponding quarter previous year.

Total pax traffic increased by 7% YoY to 31.8 million during the quarter.

Meanwhile, the board approved raising of funds up to Rs 5,000 crore in one or more tranches, through issue of securities including a qualified institutions placement and/or foreign currency conveftible bonds and/or any other securities and recommending the same to shareholders of the company for approval, subject to other regulatory and/or statutory approvals, as applicable.

GMR Airports Infrastructure is mainly engaged in development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones.