GMR Airports looks serene

GMR Airports is a bright star in this current sell-off market. From its close of Rs.84.35, the stock today opened slightly higher at Rs.84.98 and soon rose to an intraday high at Rs.85.75, which is not too far from its 52-week high of Rs.88.70.

The market is happy because it saw a 15% (YoY) and up 10% (MoM) jump in passenger traffic in Dec’23. More than 1.09 crore was the total passenger traffic at all its 5 airports put together – Delhi, Hyderabad, Mopa (Goa),  Medan (Indonesia) and Cebu (Philippines).

Delhi Airport traffic continues to trend upwards & handled highest ever YTD Pax traffic:

• YTD Pax traffic crossed 54.5 mn Pax mark as on December 31, 2023
• Pax traffic transcending sustainably 6 mn Pax every month in YTD FY2024
• Handled highest ever monthly traffic (6.6 mn Pax) in December 2023
• Recorded highest single day Pax traffic 2.2 lakh Pax on December 23, 2023

Hyderabad Airport traffic continues to trend upwards & handled highest ever YTD Pax traffic:

• YTD Pax traffic crossed 18.6 mn Pax mark as on December 31, 2023
• Pax traffic transcending sustainably 2 mn Pax every month in YTD FY2024
• Handled highest ever monthly traffic (2.3 mn Pax) in December 2023
• Recorded highest ever single day Pax traffic 0.77 lakh Pax on December 23, 2023