GMR Airports’ Profit Rises 86% to 65.38 Crore Rupees in September Quarter
Key Facts
GMR Airports said on Wednesday that its net profit after tax rose 86% to 65.38 crore rupees in the three months ended September 2026, from 35.06 crore a year earlier, PTI reported, citing the company. The board approved the unaudited results for the quarter and half-year ended September 30 at its meeting on October 28. Total income increased to 4,188.49 crore rupees from 3,754.38 crore in the year-earlier period. Revenue from operations reached 4,095.44 crore rupees, up 11.6% year on year from 3,669.99 crore. The increase in profit and income came in a quarter when the company’s airports recorded limited growth in passenger numbers.
The airports handled about 28 million passengers in the September quarter, up 1% year on year, according to a company disclosure published via InvestyWise. Traffic data show varying growth among the main airports. Delhi airport handled 18,104,765 passengers, up 3% from the same period a year earlier. By contrast, traffic at Hyderabad airport fell 11.2% to 6,493,531 passengers, while Mopa airport in Goa saw a 23.9% decline to 859,101 passengers. Total traffic excluding Cebu airport was 27,988,179 passengers, up 0.7% year on year.
Earnings before interest, taxes, depreciation and amortization were 1,569 crore rupees in the quarter, up 2% from 1,531 crore in the year-earlier quarter. For the first half of the financial year, the metric rose 12% to 3,136 crore rupees. The company’s results update said the quarter marked its fifth consecutive quarter of positive net profit. Estimates from three brokerage firms for September-quarter net profit ranged from 323 million rupees at Elara Securities to 3,665 million at JM Financial, while Kotak Securities’ estimate was 876 million. Informist reported that Kotak said a 25% reduction in landing and parking charges in the September quarter could add about 300 million rupees to revenue.
Despite positive net profit for the period, the company recorded a total comprehensive loss attributable to its owners of 80.75 crore rupees in the second quarter, compared with comprehensive income of 14.30 crore a year earlier. This measure differs from the net profit after tax that the company said rose year on year. The data also showed consolidated profit for the period of 65.38 crore rupees, while the loss attributable to the company’s shareholders was 14.92 crore, compared with an attributable loss of 37.09 crore in the year-earlier period. On a quarterly basis, consolidated net profit fell to 65.38 crore rupees in the September quarter from 147.96 crore in the quarter ended June 2026, a decline of 55.8%. The figures put annual profit growth in the context of a quarterly decline and a comprehensive loss attributable to shareholders.
In a separate management change, the company appointed Sanjeev Gupta as an additional director and named him deputy chief executive officer, effective October 29, 2026. The appointment announcement came a day after the board meeting that approved the results. The company scheduled a call with investors and analysts to discuss its second-quarter fiscal 2027 results for October 29 at 10:00 a.m. India time. The call will give the company an opportunity to present details of the results to investors and analysts. The results announcement covers the quarter and half-year ended September 30, 2026.