Annual Financial Results for FY 2025-26
GMRAIRPORT · price
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GMR Airports reported a sharp turnaround with standalone revenue surging to Rs. 4,215.74 crore in FY2025-26 from Rs. 1,267.08 crore in FY2024-25, driven by new duty-free and cargo concessions at Delhi and Hyderabad airports. The company posted a profit after tax of Rs. 142.05 crore compared to a loss of Rs. 187.95 crore the prior year. EBITDA stood at Rs. 1,206.31 crore with an operating margin of 33.46%. The auditor issued an unmodified clean opinion but included an Emphasis of Matter drawing attention to pending litigations at subsidiary airports DIAL and GHIAL concerning Monthly Annual Fees and tariff matters, which carry uncertainty over the carrying value of investments. Related party transaction disclosures for the half-year were also filed. The company has also taken on new cargo and duty-free operations at Delhi Airport following the revocation of security clearance of a previous operator.
Strong revenue growth and return to profitability are positive, but the negative operating cash flow of Rs. 411.60 crore and unresolved regulatory litigations at key subsidiaries (DIAL and GHIAL) remain key risks for investors to monitor.