GMR Airports Ltd on Friday (March 7) said it has completed the acquisition of a 10% equity stake in Delhi International Airport Ltd (DIAL) from Fraport AG Frankfurt Airport Services Worldwide. Following this transaction, GMR’s shareholding in DIAL has increased from 64% to 74%.

The acquisition, originally announced on September 9, 2024, was finalised after receiving requisite approvals and fulfilling all conditions. The transfer of shares and exchange of consideration between GMR and Fraport has now been successfully concluded.

GMR Airports reported a net profit of ₹202.1 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal year, GMR Airports posted a net loss of ₹486.4 crore, the company said in a regulatory filing.

Also Read: Delhi Airport seeks higher user fee, currently ‘among the lowest in India’

The company’s revenue from operations increased 19.2% to ₹2,653.2 crore against ₹2,226.7 crore in the corresponding period of the preceding fiscal year. At the operating level, EBITDA jumped 48.3% to ₹991.7 crore in the third quarter of this fiscal year from ₹668.6 crore in the corresponding period in the previous fiscal.

The EBITDA margin stood at 37.4% in the reporting quarter versus 30% a year ago. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Shares of GMR Airports Limited ended at ₹72.70, down by ₹1.01, or 1.37%, on the BSE.

Also Read: GMR Airports to acquire 50% stake in Bird Delhi General Aviation Services for ₹15 crore