GMR Airports Q3 net profit drops 54% despite strong revenue growth

GMR Airports Ltd on Friday (February 14) reported a sharp 54.4% year-on-year decline in net profit to ₹121.8 crore in Q3FY26, compared with ₹267 crore a year ago. However, its revenue surged 50.5% to ₹3,994 crore from ₹2,653 crore, supported by higher passenger traffic and improved operating performance.

The company said total income increased 49% YoY to ₹4,083 crore, while EBITDA climbed 65% to a new high of ₹1,789 crore. As per the filing, Delhi Airport posted its highest-ever EBITDA.

Passenger traffic

also saw a surge, with GAL-owned airports handling 31.9 million passengers during the quarter. Delhi Airport handled 20.8 million passengers, Hyderabad Airport managed 7.8 million, and Mopa (Goa) Airport recorded its traffic at 1.46 million passengers.

Delhi Airport (DIAL) reported total income of ₹2,019 crore in Q3FY26, up 41% year-on-year from ₹1,430 crore in Q3FY25. The increase was driven by aero revenues, which rose 173% YoY following the implementation of revised tariffs, while non-aero revenues grew 11% during the quarter. For 9MFY26, total income increased 38% to ₹5,634 crore from ₹4,097 crore in 9MFY25.

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While Hyderabad Airport (GHIAL) reported total income of ₹659 crore in Q3FY26, up 8.2% year-on-year from ₹609 crore in Q3FY25, with aero revenue rising 5.6% YoY and non-aero revenue increasing 23.7%.

For 9MFY26, total income grew 11.1% to ₹1,957 crore from ₹1,761 crore in 9MFY25. EBITDA increased 10.9% YoY to ₹429 crore in Q3FY26 from ₹387 crore, with quarterly EBITDA remaining near record highs. For 9MFY26, EBITDA rose 11.8% to ₹1,249 crore from ₹1,117 crore.

GAL also claimed that 42% of its water consumption was met through recycled water. It added that Delhi Airport became the first Indian airport to receive the IGBC Net Zero Waste to Landfill Platinum Certification.

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GMR Airports Ltd shares closed at ₹94.08 on the NSE on Friday, down ₹2.25 or 2.34%.