GMR Airports Ltd on Thursday (October 24) reported a net loss of ₹428.8 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, GMR Airports posted a net loss of ₹190.4 crore, the company said in a regulatory filing.

The company’s revenue from operations increased 20.9% to ₹2,495.5 crore as against ₹2,063.5 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA surged 18.3% to ₹859.2 crore in the second quarter of this fiscal over ₹726.1 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 34.4% in the reporting quarter as compared to 35.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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In the second quarter of FY25, GMR Airports reported continued growth in passenger traffic at both Delhi and Hyderabad airports. Total passenger traffic increased by 8% year-on-year to 31.5 million in Q2FY25. Delhi Airport reached 38.3 million passengers (Pax) in H1FY25, while Hyderabad Airport recorded 13.7 million Pax during the same period.

At Delhi Airport, Q2FY25 passenger traffic increased to 19.0 million, up 7.6% from 17.7 million in Q2FY24. This was driven by a 5.8% increase in domestic traffic and a significant 12.7% rise in international traffic.

Delhi Airport’s total income grew by 10.0% year-on-year to ₹1,379 crore in Q2FY25, while EBITDA was slightly down by 0.7% at ₹398 crore due to increased employee expenses and revenue share from joint ventures. For the first half of FY25, EBITDA rose by 1.5% to ₹791 crore.

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Hyderabad Airport also witnessed strong growth, with Q2FY25 passenger traffic reaching 6.9 million, a 14.0% year-on-year increase from 6.0 million in Q2FY24. Domestic traffic grew by 14.5%, and international traffic rose by 11.5%. Hyderabad Airport’s total income for Q2FY25 grew by 14.8% year-on-year to ₹577 crore, while EBITDA increased by 8.7% to ₹369 crore.

However, profit after tax (PAT) fell to ₹49 crore in Q2FY25 compared to ₹71 crore in Q2FY24 due to rising interest expenses, driven by the airport’s expansion. In H1FY25, PAT was ₹99 crore, down from ₹220 crore in the same period last year.

The results came after the close of the market hours. Shares of GMR Airports Ltd ended at ₹82.66, up by ₹0.46, or 0.56% on the BSE.

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