GMR AIRPORTS LIMITED has informed the Exchange about Investor Presentation
GMRAIRPORT · price
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Awaiting price reaction for this filing.
GMR Airports reported record quarterly consolidated EBITDA of INR 12.8bn, up 26% YoY, driven by the implementation of revised Delhi Airport tariffs under Control Period-4 from mid-April 2025. Gross Income rose 32% YoY to INR 33.2bn, while net loss narrowed to INR 1.4bn from INR 3.4bn a year ago. Total passenger traffic across operated airports grew 4% YoY to 30.1mn, with Hyderabad hitting a record 8.1mn passengers (+17% YoY). Delhi Airport EBITDA surged 62% YoY to INR 6.3bn with 63% margins, and TDSAT quashed AERA's HRAB calculation, directing a fresh computation within 12 weeks — a positive regulatory outcome. Credit ratings were upgraded across GAL (CRISIL A+/Stable, CARE A) and DIAL (IND AA). However, net debt rose INR 14bn QoQ to INR 329bn due to the Fraport stake acquisition financing, Bhogapuram capex, and consolidation of EGLPPL debt.
Short-term positive for the stock as Delhi tariff upside is now flowing through to earnings with record EBITDA, but rising net debt and continued bottom-line losses (though narrowing) remain watchpoints. The TDSAT ruling and credit rating upgrades strengthen the long-term cash flow and refinancing story.