Hyderabad Airport records 24% increase in passengers, income; expansion project nears completion
GHIAL’s financials also exhibited robust growth, with total income reaching Rs 502 crores in Q2FY24, marking a noteworthy 53 per cent year-on-year surge from Rs 328 crores in Q2FY23
By Anoushka Caroline Williams Published on 14 Nov 2023 11:51 AM GMT
Hyderabad: The GMR Hyderabad International Airport Limited (GHIAL) has registered a substantial increase in passenger traffic and financial metrics in the second quarter of the fiscal year 2023-24, according to its recent report.
In Q2FY24, the passenger traffic at RGIA in Shamshabad reached six million, reflecting a 24 per cent year-on-year increase from 4.9 million in Q2FY23. This growth is attributed to a significant 24 per cent rise in domestic traffic and a 23 per cent increase in international traffic.
GHIAL’s financials also exhibited robust growth, with total income reaching Rs 502 crores in Q2FY24, marking a noteworthy 53 per cent year-on-year surge from Rs 328 crores in Q2FY23. The half-yearly total income increased by 56 per cent to Rs 976 crores in H1FY24.
EBITDA saw a substantial increase, reaching Rs 339 crores in Q2FY24, a 69 per cent year-on-year rise from Rs 201 crores in Q2FY23. On a half-yearly basis, EBITDA escalated by 74 per cent to Rs 665 crores in H1FY24, driven by increased revenues from both aero and non-aero sources. Profit after tax (PAT) showed remarkable growth, reaching Rs 71 crores in Q2FY24.
Expansion project
GHIAL’s ongoing project to increase capacity from 12 million to 34 million passengers has achieved an impressive 94.9 per cent completion as of September 30, 2023, and 95.4 per cent progress as of October 18, 2023.
The airport’s connectivity has expanded, connecting to 66 domestic destinations (compared to 55 pre-COVID) and 18 international destinations (compared to 16 pre-COVID).
GHIAL’s Environmental, Social, and Governance (ESG) initiatives received prestigious recognitions, including achieving the highest Level 4 Airport Carbon Accreditation from ACI, winning CII National Awards for energy efficiency, securing a coveted 4-star rating in the Skytrax World Airport Star Rating framework, and transitioning to 100 per cent sustainable green energy.
Maintaining an ASQ score of 5 for Q2FY24, GHIAL underscores its commitment to delivering exceptional service quality.
