GMR Airports reports record passenger growth and financial gains in Q3 FY25
GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, has reported an impressive surge in passenger traffic and financial performance for the third quarter of fiscal year 2025. The company’s owned and operated airports collectively recorded a 10% year-on-year (YoY) increase in passenger volume, reaching 31 million travelers. This upward trend underscores the post-pandemic recovery in global air travel and GMR’s strategic efforts to enhance operational efficiency, expand infrastructure, and improve passenger experiences.
Passenger traffic at Indira Gandhi International Airport in Delhi climbed to 20.3 million in Q3 FY25, representing an 8.1% YoY growth. Hyderabad’s Rajiv Gandhi International Airport also achieved record highs, with 7.7 million passengers, reflecting a 22.1% YoY increase. Meanwhile, Manohar International Airport in Mopa (Goa) maintained a steady flow of travelers, accounting for 1.2 million passengers for the quarter. These figures highlight GMR’s commitment to meeting growing air travel demand with cutting-edge airport operations and expansion initiatives.
What factors contributed to GMR’s financial success in Q3 FY25?
The company’s financial performance mirrored its operational growth, with total income surging 17% YoY to INR 2,748 crore in Q3 FY25. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 37% YoY to INR 1,087 crore, driven by higher passenger traffic, improved tariff structures, and non-aeronautical revenue streams. Most notably, GMR Airports Limited achieved a profit after tax (PAT) of INR 202 crore, reversing the INR 486 crore loss reported in Q3 FY24.
At the individual airport level, Delhi Airport’s revenue grew 8.1% YoY to INR 1,430 crore, while Hyderabad Airport posted a 22.9% increase in revenue to INR 609 crore. The Goa-based Mopa Airport experienced the most significant jump, with revenue climbing 76.9% YoY to INR 124 crore. The strong financial results underscore GMR’s strategic focus on airport revenue diversification, leveraging both aeronautical and commercial streams.
What key developments are shaping GMR’s airport expansion strategy?
GMR Airports Limited continues to advance its airport modernization initiatives, with technology-driven enhancements and infrastructure expansions playing a central role. The introduction of an AI-powered Airport Predictive Operation Centre (APOC) at Hyderabad Airport marks a significant leap forward in airport management efficiency and passenger experience optimization. The APOC integrates real-time data across airside, landside, and terminal operations, ensuring seamless decision-making and minimal disruptions.
The company is also strengthening its airport-adjacent commercial footprint, expanding food and beverage offerings and retail operations at key locations. In Hyderabad, 24 of the planned 34 food and beverage outlets are already operational, while Mopa Airport has opened a microbrewery alongside eight new F&B outlets. Additionally, the Nagpur Airport Concession Agreement, signed with MIHAN India Limited, is set to accelerate the development of Dr. Babasaheb Ambedkar International Airport.
Another significant expansion effort is underway at Mopa Airport, where the company has secured agreements for two new hotels on a four-acre commercial site, bolstering the airport’s status as a key aviation hub in Goa. Meanwhile, Delhi Airport continues to reinforce its global connectivity, becoming the first Indian airport to offer direct routes to 150 destinations, including high-frequency flights to North America.
How is GMR improving financial stability and reducing debt risk?
In a move to strengthen financial stability, GMR Infra Enterprises Private Limited, a key entity within the GMR Promoter Group, has consolidated its debt structure by refinancing loan-against-shares liabilities. The company raised INR 6,300 crore through Optionally Convertible Debentures (OCDs), backed by the Abu Dhabi Investment Authority (ADIA). This restructuring significantly reduces the risk of pledged promoter shares, ensuring long-term financial resilience and mitigating refinancing concerns.
What international expansions are shaping GMR’s global footprint?
Beyond India, GMR Airports Limited is steadily expanding its international presence, operating and managing key airports across Southeast Asia and Europe.
- Medan Airport (Indonesia) reported 1.82 million passengers in Q3 FY25, with revenue rising 7.1% YoY to INR 135 crore, despite minor setbacks in fleet reactivations by airlines.
- Cebu Airport (Philippines) recorded 3.01 million passengers, an 18.2% YoY increase, reinforcing GMR’s operational expertise in the region.
- Crete Airport (Greece) remains on track, with construction progress reaching 43% completion as of December 2024.
These international projects solidify GMR’s standing as a leading global airport operator, diversifying its portfolio and enhancing its long-term market presence.
What awards and industry recognition has GMR received?
GMR Airports Limited continues to be recognized for its excellence in airport management, passenger services, and operational efficiency. Delhi Airport was named the winner in the Service Industry Category at the ASQ South Asia Excellence Awards 2024. Hyderabad Airport earned the Best Airport Award at the India Travel Awards, while its cargo division secured multiple accolades, including the Best Cargo Airport Award in the Pharma Category at the India Cargo Awards.
Mopa Airport in Goa also made history as India’s first airport to receive the Sarvashrestha Suraksha Puraskar from the National Safety Council of India, further emphasizing GMR’s commitment to safety and sustainability.
What lies ahead for GMR Airports Limited?
Looking ahead, GMR Airports Limited remains focused on scaling its infrastructure, improving passenger experiences, and expanding revenue streams. With air travel demand at record levels, the company is well-positioned to drive growth through:
- Continued airport modernization and expansion projects
- Enhancing technology-driven operational efficiencies
- Strengthening commercial and non-aeronautical revenue streams
As India’s aviation sector continues its rapid expansion, GMR Airports Limited is at the forefront of innovation, setting new benchmarks in airport infrastructure, passenger services, and operational excellence.
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