Jun 02, 2017: GMR Infrastructure, which recently released its financial results for 2016-17, stated that the stellar performance of airports sector has driven the group’s financials. The gross debt came down significantly to INR 19,856 crore from INR 37,480 crore.
The group stated that profits from the airport sector have increased significantly and the Delhi and Hyderabad Airports have declared dividends for the first time. The group has also won the Mopa Greenfield Airport in North Goa in a competitive bid.
There has been significant improvement in EBITDA- an increase of 12 percent to INR 3,497 crore for FY17 from INR 3,114 crore for FY16 following a robust improvement in performance of airports and energy verticals, said the press release.
Delhi Airport traffic registered a growth of 19 percent from 48.4 million to 57.7 million while the Hyderabad Airport traffic increased to 15.2 million from 12.5 million, marking a growth of 22 percent. The Cebu Airport in Philippines, where GMR has made significant investment, also marked a growth of 12 percent in traffic from 8.0 million to 8.9 million.
Financial Highlights for FY’17