Food & beverage a star performer as GMR Airports reports strong FY2024-25 results

INDIA. Private airports operator GMR Airports has reported strong results for its 2024/25 financial year ended 31 March.

They include impressive non-aeronautical performances at its two leading operations, Indira Gandhi International Airport, Delhi and Rajiv Gandhi International Airport, Hyderabad, particularly in food & beverage.

At Delhi Airport, non-aeronautical revenues rose +12% year-on-year to INR33 billion (US$386.6 million) across the financial year (and +13.7% in Q4), significantly outpacing traffic growth (+7.6% to 79.3 million).

Within that, retail revenues jumped +10% to INR9.2 billion (US$107.8 million), advertising revenues were up +14% to INR2.3 billion (US$27 million) and, most impressively, F&B revenues leapt +23% to INR3.3 billion (US$38.7 million).

At Hyderabad, non-aeronautical revenues grew +11% to INR6.3 billion (US$73.8 million) for the year (and +13.7% in Q4) but lagged passenger growth (+17.7% to 29.5 million).

A -23% year-on-year fall in car parking revenues to INR0.8 billion (US$9.4 million) contributed to that disparity. Retail rose +14% to INR2 billion (US$23.4 million).

However, there was a stellar performance from F&B at the airport, which soared +40% to INR1.3 billion (US$15.2 million) while advertising revenues rose +26% to INR0.8 billion (US$9.4 million).

Other airports in the GMR portfolio include Indonesia’s Kualanamu International Airport, which contributed to overall GMR Airports-owned airport passenger traffic of 120.5 million across the financial year (+9% year-on-year).

In its financial report, GMR Airports also provided an update on its progress with its developing greenfield airport in Visakhapatnam, Andhra Pradesh (Bhogapuram Airport).

As of March, 69% of the key infrastructure work is complete including airside works (87% complete), terminal building (59% complete) and traffic control tower (71.5% complete).