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GMR Airports Infra ends lower after revenue share payments hurt operating profit

GMR Airports Infra ends lower after revenue share payments hurt operating profit

GMR Airports Infra ends lower after revenue share payments hurt operating profit
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By CNBCTV18.com Nov 15, 2022 4:06 PM IST (Published)

The company's net revenue rose 17 percent year-on-year (YoY) to Rs 1,126 crore in the quarter under review from Rs 961 crore in the same quarter a year ago.

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Shares of GMR Airports Infrastructure ended lower on Tuesday even as traffic growth improved and net losses narrowed.


GMR Airports Infrastructure's consolidated net loss narrowed to Rs 209 crore in the September quarter from Rs 532 crore in the year-ago period.

The company's revenue rose 17 percent to Rs 1,126 crore from Rs 961 crore in the same quarter a year ago.

The airport infrastructure firm reported a 5 percent drop in EBITDA to Rs 473 crore compared to Rs 497 crore in the year-ago quarter.

The EBITDA decline is due to the commencement of revenue share payment to the Airports Authority of India at the Delhi airport since April 2022.

Domestic traffic at the airports increased 76 percent in Delhi and 75 percent in Hyderabad in the September quarter.

The company announced that Goa Airport received ‘Consent to Operate’ from the Goa State Pollution Control Board and Aerodrome License from DGCA and the airport is expected to be inaugurated soon.

The company also said it has signed a deal with Aboitiz InfraCapital for the divestment of its stake in Cebu Airport in the Philippines.

The company expects traffic to gain momentum with the addition of routes and airline capacity.
Shares of the company ended 3.9 percent lower at Rs 37.10.
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