Q1 2025 GMR Airports Infrastructure Ltd Earnings Call Transcript
Key Points
- Completion of the merger between GMR Airports and GMR Airports Infrastructure Limited, streamlining corporate structure.
- Q1 FY 2025 total income increased by 19% year-on-year to INR25.2 billion, driven by traffic growth.
- EBITDA growth of 18% year-on-year to INR10.2 billion, with an EBITDA margin of 52% for the quarter.
- Significant growth in passenger traffic at key airports: Delhi (7% year-on-year), Hyderabad (10% year-on-year), and Goa (19% year-on-year).
- Notable achievements in ESG initiatives, with Delhi and Hyderabad Airports targeting net zero by 2030 and maintaining high ESG scores.
- Higher finance costs and depreciation post-expansion led to a loss from continuing operations of INR3.4 billion.
- Consolidated net debt increased to INR280 billion, driven by borrowings and capital expenditures.
- Non-aero revenue per passenger growth was modest at 2-3%, impacting EBITDA growth.
- Operational expenses at Hyderabad Airport increased due to the expanded terminal, slowing EBITDA growth.
- Uncertainty around the finalization of the Delhi tariff order, which is expected by the last quarter of FY 2025.
Ladies and gentlemen, good day, and welcome to GMR Airports Infrastructure Limited conference call to discuss Q1 FY 2025 results. (Operator Instructions) Please note that this conference is being recorded.
We have with us today, Mr. Saurabh Chawla, Executive Director, Finance and Strategy, along with the other top management.
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 risks 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. Saurabh Chawla for the opening remarks. Thank you, and over to you, sir.
Thank you, and good evening, everyone. I welcome our shareholders, analysts, and other stakeholders to our Q1 Fiscal '25 Earnings Call. This is a momentous moment for us because now our merger has got completed and this is the first
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