GMR AIRPORTS LIMITED has submitted to the Exchange the Outcome of Meeting of Board Meeting - February 13, 2026.
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GMR Airports' Board approved unaudited standalone and consolidated financial results for Q3 FY26 on February 13, 2026. On a consolidated basis, total income for 9M FY26 rose to Rs 11,157.85 crore from Rs 7,859.20 crore in 9M FY25 (about 42% growth), driven by new duty-free operations at Delhi and Hyderabad airports and the cargo concession taken over from Celebi. The company swung to a consolidated profit of Rs 385.88 crore for 9M FY26, compared to a loss of Rs 439.47 crore in 9M FY25. Operating margin improved to 41.73% from 40.59% YoY. The auditor (Walker Chandiok & Co LLP) issued an unqualified review report but included an emphasis-of-matter paragraph flagging uncertainties over the Monthly Annual Fee (MAF) and tariff-related litigations at Delhi (DIAL) and Hyderabad (GHIAL) airports. The company also booked a Rs 7.42 crore exceptional charge for gratuity and leave encashment under the new Labour Codes.
Strong revenue growth and a return to consolidated profitability are positive for shareholders, supported by new non-aero revenue streams. However, the emphasis-of-matter on ongoing MAF and tariff litigation at DIAL and GHIAL remains a key risk that could materially affect the value of airport investments if rulings turn adverse.