GMR Airports' Total Passenger Traffic Rises 14% In November
GMR Airports Infrastructure Ltd. recorded passenger traffic of 1.12 crore across all its airports in November, indicating a 13.6% surge on a year-on-year basis. The company's domestic traffic rose 14.3%, while its international traffic reported an 11.3% growth, according to an exchange filing on Monday.
Delhi and Hyderabad airports posted the highest-ever passenger traffic in the last month.
The firm handled the highest-ever passenger traffic as well as air traffic management year-to-date at 8.5 crore passengers and 5.5 lakh ATMs.
Delhi Airport
In November, Delhi Airport recorded passenger traffic that crossed 68 lakh passengers, representing a 12% growth year-on-year. This was the highest month ever for passenger traffic at the airport. Its domestic traffic rose by 12.3% on a year-on-year basis, while its international traffic soared 10.4%.
The airport also managed the highest-ever cargo volume of approximately 7.4 lakh tonnes in November, a 14.2% year-on-year rise.
The airport also saw a 6% year-on-year rise in aircraft movement.
Hyderabad Airport
Last month, the airport's passenger traffic crossed 25 lakh passengers, noting a 24.6% growth year-on-year. Its domestic traffic rose 26.7% year-on-year, while the international traffic surged by 14.3%.
On Nov. 10, the airport recorded the highest-ever single-day passenger traffic of 89 lakh passengers.
Goa Airport
In November, the Mopa (Goa) airport handled around 4.3 lakh passengers with a 5% year-on-year rise. Its domestic traffic rose 7.9%, while its international traffic surged 290.7%.
It achieved the highest air traffic management for the year on Nov. 16 at 126.
The shares of GMR Airports rose as much as 0.58% during the day to Rs 84.44 apiece on the NSE. The stock closed 0.06% lower at Rs 83.90 per share. This compares with a 0.40% decline in the benchmark Nifty 50. It has risen 7.15% in the last 12 months and 4.42% year-to-date.
Out of three analysts tracking the company, one maintains a 'buy' rating and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 0.4%.
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