Home Stock Market GMR Airports experiences notable financial growth due to rising passenger traffic, shows promising results.

GMR Airports experiences notable financial growth due to rising passenger traffic, shows promising results.

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GMR Airports experiences notable financial growth due to rising passenger traffic, shows promising results.

GMR Airports Reports Substantial Financial Growth Amid Increased Passenger Traffic

GMR Airports Infrastructure, a subsidiary of GEPL, has announced impressive financial results for June 2023. Net sales and net profit have surged by 185.34% and 144.61% respectively, compared to the previous year. The company’s EBITDA for the same month reached ₹65.51 crore ($870 million), a significant increase from ₹3.71 crore ($49 million) recorded in the previous year.

Despite a slight month-on-month decline of 4%, GMR Airports Infrastructure has experienced a remarkable 23% increase in annual passenger traffic. This surge in traffic has led to the company’s stock quoting at ₹59.25 ($0.79) on Friday, representing a more than 1% increase.

Record High Passenger Numbers for Delhi Airport

Delhi Airport has seen a record high in passenger numbers, with a 14% year-on-year increase. This growth has solidified its position as a leading airport in India. It was closely followed by Hyderabad Airport and the newly opened MOPA airport in Goa.

Investment in Bhogapuram Airport

During the Global Investors Summit 2023, GMR Airports Infrastructure announced an investment of ₹5,000 crore ($66 billion) in Bhogapuram Airport, located in Andhra Pradesh. This substantial investment is expected to boost the airport’s capacity and infrastructure, catering to the growing demands of air travel. However, data on aircraft movements and Q2FY24 results are still awaited.

This article provides an overview of GMR Airports Infrastructure’s impressive financial growth and increased passenger traffic. The company’s net sales and net profit have witnessed significant increases, while the stock price has also seen a positive trend. Delhi Airport, Hyderabad Airport, and MOPA Airport have experienced substantial growth in passenger numbers. Furthermore, GMR Airports Infrastructure’s investment in Bhogapuram Airport highlights its commitment to expanding and improving airport infrastructure in India. These developments are indicative of the company’s dedication to providing exceptional services and meeting the demands of the ever-growing aviation industry.