On Tuesday, Midcap airport infrastructure stock fell 2.3 percent to its intraday low of Rs 71.4 from its previous close of Rs 73.1 after the company’s non-promoter group sold 2.4 percent of the company stake.
According to GMR Airports Infrastructure Filling, the company’s non-promoter sold 14 crores of equity shares which is 2.4 percent of the company in the open market.
Additionally, the company non-promoter acquired 46 crores of equity shares which is 7.6 percent of the company through the bulk deal.
Looking at GMR Airports Infrastructure Ltd’s financials report, the net revenue increased by 30 percent year over year, from Rs 1,583 crore in Q2FY23 to Rs 2,063 crore in Q2FY24.
In addition, the company’s net loss decreased by 2.6 percent year over year, from a net loss of Rs 197 crores in Q2FY23 to a net loss of Rs 190 crores in Q2FY24.
Furthermore, the company’s debtor days have improved from 55.7 to 20.1 days. However, the company remains in net loss, and the ratios like return on equity, net profit margin, and debt-to-equity ratio of the company are also negative.
GMR Airports Infrastructure Limited is a midcap company with a market capitalization of Rs 43,380 crores. The company’s share price has risen by 76 percent year to date and by 69 percent during the previous six months.
The GMR Airports Infrastructure Limited promoters own 59 percent of the company, with foreign institutional investors owning 28 percent, the general public owning 8.7 percent, and domestic institutional investors owning 4.3 percent.
GMR Infrastructure is primarily involved in airport development, maintenance, and operation, power generation, coal mining and exploration activities, highway development, development, maintenance, and operation of special economic zones, and the construction sector, which includes EPC contracting.
Written by Sriram KV
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
