Mid-cap stock that is into development, operation and maintenance of airports gains marginally after it releases monthly air traffic data related to passenger air traffic and aircraft moments.
At 12:15 p.m the shares of GMR Airports Infrastructure were trading at Rs. 59.20 up 0.25 percent from its previous day close price and the market capitalization of the company is 35,732 Cr.
As per the company’s filing, GMR Airports Infrastructure has released monthly air traffic data, its September passenger air traffic was 94,16,221 up 23% YoY and aircraft moments were 62,230 up 14% YoY.
In addition to this, its Delhi Airport and Hyderabad Airport reached another milestone of handling highest ever half-yearly Pax traffic, by crossing 35 mn Pax mark and 12 mn Pax mark in H1FY2024.
The company’s results increased by 45.49 percent from 4,600.72 Cr in FY22 to 6,693.4 Cr in FY23, accompanied by increasing losses of 752.31 Cr to 839.93 Cr.
The company reported a return on equity (ROE) of 0.00 and return on capital employed(ROCE) of 5.69 percent, this indicates that the company is not yet generating profits as it is gradually decreasing its losses.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 59.07 percent stake, the Domestic Institutional Investors hold 4.42 percent and the Foreign Institutional Investors (FII) hold 28.15 percent.
GMR Airports Infrastructure is engaged in development, operation and maintenance of airports along with offering integrated security solutions.
Written by: Bharath K.S
