Q2 2026 GMR Airports Ltd Earnings Call Transcript
Key Points
- GMR Airports Ltd (BOM:532754) reported a significant increase in total income for Q2 FY 2026, reaching INR 37.5 billion, up 45% year on year.
- EBITDA grew by 59% year on year to INR 15.3 billion, with an improved EBITDA margin of 53% despite a foreign exchange loss.
- The company successfully took over Delhi duty-free and cargo businesses, contributing to revenue growth.
- Non-aero revenue at Delhi, Hyderabad, and Goa airports rose 13% year on year, indicating strong performance in non-aeronautical segments.
- GMR Airports Ltd reported a profit from continuing operations of INR 351 million for the quarter, compared to a loss in the previous year.
- Traffic at GMR-operated airports fell by 3.5% year on year in Q2, reaching 27.8 million passengers, due to temporary disruptions in flight operations.
- Consolidated net debt increased by INR 13 billion versus Q1 FY 2026, standing at INR 341 billion.
- Mopa or Goa Airport reported a decline in total income by 15% year on year, with aero revenues declining by 27%.
- The company faced geopolitical and operational challenges, impacting the first half of fiscal '26.
- There was a notional foreign exchange loss of about INR 0.6 billion in Q2 due to currency fluctuations.
Ladies and gentlemen, good morning and welcome to the GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, conference call to discuss the Q2 FY 2026 results. As a reminder, all participant clients will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during the conference call, please signal an operator by pressing, then 0 on a touchstone phone. Please note that this conference is being recorded.
We have with us today Mr. Shara Chawla, executive Director, Finance and strategy.
Before we begin, I would like to state that some of the statements made in today's discussion may be forward-looking in nature and may involve risk and uncertainties. Also, recording or transcribing of this call without prior permission of the management is strictly prohibited.
I now hand the conference over to Mr. Saurav Chawla for the opening remarks.
Thank you and over to you, sir.
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