GMR AIRPORTS LIMITED has submitted to the Exchange, the Un-audited Financial Results for the quarter ended June 30, 2025.
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GMR Airports reported its Q1 FY26 (April–June 2025) unaudited results on a standalone and consolidated basis. Standalone revenue from operations jumped to Rs. 477.97 crore from Rs. 202.34 crore a year ago (about 136% YoY growth), but the company slipped into a wider standalone loss of Rs. 178 crore versus Rs. 145.75 crore last year, hurt by Rs. 141.79 crore in unrealised forex losses and high finance costs of Rs. 297 crore. Standalone operating margin fell sharply from about 44% to roughly 26%. On a consolidated basis, revenue rose about 33% YoY to Rs. 3,205 crore, EBITDA improved to Rs. 1,280 crore, and net loss narrowed meaningfully to Rs. 137 crore from Rs. 337.57 crore. The Board also approved raising up to Rs. 6,000 crore via non-convertible bonds to refinance existing NCDs, and appointed M/s V Sreedharan & Associates as Secretarial Auditor for five years. Separately, DIAL terminated the Celebi cargo concession and handed it to GMR, and GMR began duty-free operations at Delhi Airport from July 28, 2025.
The loss widened on a standalone basis due to forex and interest costs, which may concern short-term investors, but consolidated losses narrowed sharply and revenue grew strongly. The Rs. 6,000 crore bond refinancing plan could ease debt-servicing pressure, while the auditor flagged an emphasis-of-matter note on ongoing DIAL and GHIAL tariff disputes that remain a key overhang.