GMR Airports Infra Q1 results: Revenue soars 40% at ₹2,018 crore
₹2,018 crore for the first quarter ended June 30 of fiscal year 2024. The company had reported gross revenue at ₹1,439 crore in the same quarter a year ago. Ebitda (earnings before interest, taxes, depreciation, and amortization) rose by 77% year-on-year (YoY) at ₹753 crore in Q1 of FY24, the company said in an exchange filing.
The company had reported Ebitda at ₹424 crore in the same quarter a year ago. Its profit after tax (PAT) from continuing operations stood at ₹15 crore in the June quarter of fiscal year 2024, as compared to ₹115 crore in the same period a year ago. The company reported profit before tax (PBT) at ₹112 crore in the June quarter of fiscal year 2024, as compared to ₹89 crore in the same period a year ago.
In the first quarter of FY24, total passenger traffic rose by 26% YoY to 27.0 mn, said GMR Airports Infrastructure. The company said it recently received the NoC to the merger of GMR Airports Ltd with GMR Airports Infrastructure Ltd from the Reserve Bank of India (RBI) and both the stock exchanges. “Merger application will now be filed shortly with the National Company Law Tribunal," it added.
Last week, GMR Airports Infrastructure Ltd had said its board will consider raising funds of up to ₹5,000 crore during the meeting on August 14. Shares of GMR Airports Infrastructure Ltd on Monday fell 2.30% to close at ₹53. GMR Group is a leading global infrastructure conglomerate, with a significant presence in sectors like energy, transportation and urban infrastructure.
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