Construction & Engineering company GMR Airports Infrastructure announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: - Total Pax Traffic increased by 16% YoY to 28.2 million in Q3FY24. - Total Income increased by 22% YoY to Rs 2,351 crore in Q3FY24. - EBITDA increased by 16% YoY to Rs 793 crore in Q3FY24. Consolidated 9MFY24: - Total Income for 9MFY24: Rs 6,639 crore. - EBITDA for 9MFY24: Rs 2,478 crore. - PBT (Before Exceptional Items & Share of JVs) for 9MFY24: Rs 187 crore. - Profit After Tax from continuing operations for Q3FY24: Rs 117 crore. Merger Developments: - GMR had announced the merger of GAL with GIL to simplify the corporate structure and enhance shareholder value. Approval from GIL equity shareholders was received in Dec'23. Regulatory Developments: - Delhi Airport received a favorable award in arbitration against AAI due to force majeure (COVID-19), excusing it from paying MAF for Mar'20 to Feb'22 and extending the OMDA term for 1 year and 11 months. - Mopa Airport received a tariff order from AERA for the first control period until Mar'28, revising charges from Jan'24. Debt and Financing: - Raised Rs 2,475 crore through NCDs for Mopa Airport, with proceeds used for debt refinancing and expansion capex. - Raised Rs 1,950 crore through bonds for GAL, with the gross debt at Rs 4,681 crore as of December 31, 2023. Airports Operational Updates: - Delhi Airport crossed the 54 million Pax mark. - Hyderabad Airport crossed the 18.5 million Pax mark. - Mopa Airport celebrated one year of operations with 1.2 million Pax in Q3FY24. Awards and Recognitions: - GMR Group received 6 awards at the Wings India Awards 2024. - Hyderabad Airport rated as the world's second most punctual airport in 2023. Expansion and Development: - Delhi Airport's expansion to increase capacity to 100 million Pax is 97.7% complete as of Jan 25, 2024. - Hyderabad Airport's expansion to increase capacity to 34 million Pax is 99.4% complete as of Jan 25, 2024. Shareholding Changes: - GAL's shareholding in GHIAL increased from 63% to 74% after acquiring a stake from Malaysia Airports Holding Berhad. Result PDF