GMR Airports Q2 FY27 Results: Total Income Rises 12% to Rs.4,188 Crore
The company reported higher quarterly income alongside steady passenger traffic growth, credit rating upgrades for Hyderabad Airport and progress in its airport expansion plans.
GMR Airports Reports Q2 FY27 Financial and Operational Performance
GMR Airports recorded growth in total income for the quarter ended September 30, 2026, supported by its airport operations and related businesses. EBITDA reached Rs. 1,569 crore, while the company continued its run of positive quarterly profit after tax (PAT) for the fifth consecutive quarter.
On the operational front, airports owned by GAL handled 28 million passengers during the quarter. Delhi Airport recorded 18.1 million passengers, while Hyderabad Airport handled 6.5 million. The company also highlighted developments in airport financing, credit ratings and its expanding airport network.
Financial Performance, Passenger Traffic and Key Developments
- Total Income: Rs. 4,188 crore in Q2 FY27, up 12% year-on-year.
- EBITDA: Rs. 1,569 crore, an increase of 2% compared with Q2 FY26.
- Profit After Tax: Rs. 65 crore, marking the fifth consecutive quarter of positive PAT.
- Passenger Traffic: GAL-owned airports handled 28 million passengers, up 1% year-on-year.
- Delhi Airport: Recorded passenger traffic of 18.1 million during the quarter.
- Hyderabad Airport: Handled 6.5 million passengers in Q2 FY27.
- Vizag Airport: Bhogapuram Airport commenced commercial operations on August 17, 2026, expanding the group's airport network.
- Delhi Airport Fundraising: Raised Rs. 3,500 crore through non-convertible debentures (NCDs) with a 15-year tenure to refinance existing notes.
- Hyderabad Airport Credit Ratings: S&P and Fitch upgraded the airport's international credit ratings to investment-grade BBB-.
- Equity Issuance: The company issued 102 million equity shares to a wholly owned subsidiary of Aeroports de Paris S.A. following the conversion of OCRPS.
What to Watch Next
Investors will track passenger traffic trends, changes in aeronautical and non-aeronautical revenue, and the impact of financing initiatives on the company's financial position. The performance of the newly operational Vizag Airport and the benefits of Hyderabad Airport's credit rating upgrades will also be important developments to monitor.
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