GMR Airports Infrastructure saw a 2 percent uptick, reaching the day’s high of Rs 56 on October 31, following the company’s encouraging financial performance in the July-September quarter (Q2FY24).
During this period, GMR Airports managed to reduce its consolidated net loss to Rs 190 crore, a significant improvement compared to the Rs 197 crore loss reported in the same quarter the previous year.
Despite the S&P BSE Sensex slipping by 205 points or 0.3 percent to 63,907 as of 10:50 am, GMR Airport’s stock has been on an upward trajectory this year, surging by 38 percent.
This notable growth outpaced the benchmark Sensex, which experienced a 5 percent rise during the same period. GMR Airport’s stock had previously reached its 52-week high of Rs 66 per share on August 25, 2023.
The company’s robust financial performance was underscored by a 25 percent year-on-year increase in total income, reaching Rs 1,607 crore in Q2FY24. This impressive growth was primarily driven by a substantial surge in traffic, with total passenger numbers escalating by 25 percent to 26.5 million during the quarter.
