On Wednesday, the share price of the large-cap company rose by 1.6% to its intraday high of ₹85.75 per share from its previous close of ₹84.35 after the company announced its business update for the December quarter.
GMR Airports Infrastructure Ltd’s airports in Delhi, Hyderabad, Goa, Indonesia, and the Philippines served approximately 1.09 crore passengers in December 2023, according to exchange data. On a month-over-month basis, this represented a 10.5% increase, driven by holiday traffic.
Furthermore, there were 68,095 aircraft movements in December, an increase of 8.3% over the previous year and 6.2% over November 2023.
In a filing, GMR Airports stated that Delhi airport traffic continues to rise, with the company handling the highest monthly traffic at 6.6 million passengers. So far in FY24, the company’s airports have served over 54.5 million passengers.
According to the financials of GMR Airports Infrastructure Ltd, the net revenue increased by 30% year over year, from ₹1,583 crore in Q2FY23 to ₹2,063 crore in Q2FY24.
In addition, the company’s net loss was reduced by 2.6% year over year, from a net loss of ₹197 crores in Q2FY23 to a net loss of ₹190 crores in Q2FY24.
In addition, the company’s debtor days have decreased from 55.7 to 20.1 days. However, the company continues to be in net loss, and its ratios such as return on equity, net profit margin, and debt-to-equity ratio are all negative.
GMR Airports Infrastructure Limited is a large-cap company with a market capitalization of ₹ 50,500 crores. The company’s share price has risen by 108% year to date and by 86% during the previous six months.
The GMR Airports Infrastructure Limited promoters own 59% of the company, with foreign institutional investors owning 28%, the general public owning 8.7%, and domestic institutional investors owning 4.3%.
GMR Infrastructure specializes in airport development, maintenance, and operation, power generation, coal mining and exploration, highway development, special economic zone development, maintenance, and operation, and construction, including EPC contracting.
Written by Sriram KV
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