Shares of GMR Airports climbed after the company reported robust growth in passenger traffic and aircraft movements for October 2024. The company handled 10.7 million passengers, marking a 9.2% year-on-year (YoY) increase, with domestic and international traffic showing equal growth.
As of 9:16 am the shares were trading 1.83% higher at ₹79.44 on NSE.
Key Highlights:
- Sustained Growth: Traffic levels have consistently exceeded 10 million passengers per month since December 2023.
- Aircraft Movements: Increased by 9% YoY and 7% month-on-month, reaching 71,598 movements in October 2024.
Year-to-Date (YTD) FY25 Achievements:
- Passenger Traffic: Highest-ever 74 million passengers handled.
- Aircraft Movements: A record 0.48 million aircraft movements.
- Cargo Handling: Reached 0.65 million tonnes, a 14.8% YoY growth.
Hyderabad Airport:
- October 2024 Performance:
- Handled 2.4 million passengers, up 21.7% YoY.
- Domestic traffic rose 22.7%, while international traffic grew 16.3%.
- Milestones: Recorded its highest single-day passenger traffic (0.87 lakh) on October 14 and highest aircraft movements (583) on October 20.
Delhi Airport:
- Recorded 39,000 aircraft movements, the highest in five years, significantly boosting the company’s network-wide performance.
Mopa (Goa) Airport:
- October 2024 Traffic:
- Handled 0.35 million passengers, with 13.1% YoY growth YTD FY25.
- International traffic surged 386.2% YoY, following the launch of international operations in July 2023.
- Infrastructure Expansion:
- Annual passenger capacity increased from 4.4 million to 7.7 million.
- New apron stands, aerobridges, and baggage handling systems became operational in October 2024.
Outlook:
GMR Airports’ sustained growth in passenger traffic and infrastructure expansion, along with rising cargo volumes, position the company as a key player in India’s aviation sector. The robust performance across its airports underscores its strategic focus on operational efficiency and capacity enhancement.
TOPICS:
GMR Airports