GMR Airports July Update: Passenger traffic rises 7.7% to 1.06 crore, global traffic up 9.3% YoY

GMR Airports Infrastructure Ltd said on Saturday its total passenger traffic in July rose by 7.7 per cent year-on-year (YoY) to 1.06 crore.

Its domestic passenger traffic in July increased by 7.1 per cent year-on-year.

GMR Airports also reported a growth of 9.3 per cent in international passenger traffic last month.

The company also said aircraft movements rose 6 per cent YoY to 68,755 in July and 2 per cent as compared to June.

OnAugust 14, GMR Airports had said its Board approved a plan to raise funds of up to ₹5,000 crore in one or more tranches.

The company said that the fundraising would be conducted through the issuance of securities, including a qualified institutions placement (QIP) or foreign currency convertible bonds (FCCBs).

In an exchange filing, GMR Airports said: “We wish to inform you that the Board of Directors of the company, at its meeting held on August 13, 2024, has inter alia approved the enabling resolution for raising funds of up to ₹5,000 crore in one or more tranches, through the issuance of securities, including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities.”

For the first quarter of fiscal year 2025, the company had reported a consolidated net loss of ₹258.2 crore, as compared to a net loss of ₹122.5 crore in the same period last year.

Its revenue from operations in the first quarter of 2024-25 increased by 19.06 per cent to ₹2,402.20 crore, as compared to ₹2,017.63 crore in the corresponding period of the previous fiscal year.

In December last year, Rajiv Jain-led US-based boutique investment manager, acquired a 4.68 per cent stake in GMR Airports Infrastructure for ₹1,671.55 crore via a block deal on the exchange.

Nomura India Investment Fund Mother Fund also purchased a 1 per cent stake for ₹363.7 crore, while Stichting Depositary Apg Emerging Markets Equity Pool acquired a 0.56 per cent stake for ₹198 crore.