GMR Airports' Total Passenger Traffic Rises 14% In November
GMR Airports Infrastructure achieved a record 1.12 crore passengers in November, driven by significant growth at Delhi and Hyderabad airports.
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%.
