GMR Airports Limited has announced its unaudited financial results for the second quarter and half-year ending 30 September 2026, showcasing a robust performance driven by both aero and non-aero revenue streams. The company’s total income for the quarter increased by 12% year-on-year, reaching INR 4,188 crore. This growth was complemented by a 2% rise in EBITDA to INR 1,569 crore. The company reported a profit after tax (PAT) of INR 65 crore, marking the fifth consecutive quarter of positive PAT.
The airports under GMR’s management handled a total of 28 million passengers during the quarter, reflecting a 1% increase compared to the same period last year. Delhi Airport, the largest in GMR’s portfolio, processed 18.1 million passengers, while Hyderabad and Mopa (Goa) airports handled 6.5 million and 0.9 million passengers, respectively. The company attributed the growth in passenger numbers to a steady recovery in both domestic and international travel.
GMR Airports has made significant strides in enhancing its non-aero business segments. Notably, GMR Hospitality Limited secured a bid to manage food and beverage outlets at Delhi Airport’s Terminal 3. Additionally, the company has entered into strategic agreements to bolster its cargo operations, including a partnership with FedEx for an express cargo terminal in Delhi and a collaboration with Brussels Airport to strengthen air cargo connectivity between Hyderabad and Europe.
In terms of financial strategy, GMR Airports has successfully raised funds through non-convertible debentures to refinance existing debt, resulting in improved credit ratings. S&P and Fitch upgraded the credit ratings for Hyderabad Airport, elevating it to international investment grade. The company also saw a notable upgrade in its non-convertible bond ratings by Crisil and CARE.
Analysts view GMR Airports’ performance as a positive indicator of the aviation sector’s recovery, particularly in India. The company’s strategic focus on diversifying revenue streams and enhancing infrastructure is expected to support sustained growth. As global travel continues to rebound, GMR Airports is well-positioned to capitalise on increasing passenger and cargo traffic, further strengthening its market position.
