GMR Airports Reports 96% Rise In Q4 FY26 Income, Net Profit Jumps 1,843%

Mumbai: GMR Airports Limited reported strong standalone earnings growth for the quarter ended March 31, 2026, helped by higher airport-linked business activity and expansion in duty-free operations.

Total income rose 96 percent year-on-year to Rs 1,624 crore in Q4 FY26 from Rs 830.0 crore in the corresponding quarter last year. Net profit increased sharply to Rs 379.2 crore compared to Rs 19.5 crore a year earlier.

EBITDA stood at Rs 696.3 crore against Rs 611.5 crore in Q4 FY25. The company’s earnings per share rose to Rs 0.31 from Rs 0.02 in the year-ago period.

Sequential And Annual Growth

On a sequential basis, total income increased 28 percent from Rs 1,265 crore in Q3 FY26, while net profit rose significantly from Rs 20.5 crore in the previous quarter. EBITDA nearly doubled from Rs 351.4 crore in Q3 FY26.

Total expenses for the quarter stood at Rs 906 crore compared with Rs 895.4 crore in the preceding quarter and Rs 149.3 crore in Q4 FY25.

The company also reported an exceptional gain of Rs 23.8 crore during the quarter, against an exceptional loss of Rs 8.6 crore in the previous quarter.

For the full FY26 year, standalone total income rose to Rs 4,339 crore from Rs 1,270 crore in FY25. Net profit stood at Rs 96.3 crore compared with a loss of Rs 190.7 crore in the previous financial year.

EBITDA increased to Rs 1,462 crore from Rs 962.4 crore in FY25.

What Drove The Numbers?

The company said performance was supported by the expansion of duty-free operations at Delhi and Hyderabad airports. GMR Airports had started Delhi duty-free operations from July 2025 and Hyderabad duty-free operations from September 2025.

During FY26, the company also received the cargo services concession at Delhi Airport after the termination of Celebi’s concession agreement.

The company additionally recorded a fair valuation impact of Rs 594.9 crore in other comprehensive income during the June 2025 quarter related to the cargo business transition. Operating margin for Q4 FY26 stood at 44.1 percent.

Full-Year Performance

During FY26, GMR Airports continued expanding its airport-linked commercial operations across duty-free and cargo businesses.

The company’s net worth rose to Rs 59,564 crore as of March 31, 2026, from Rs 54,050 crore a year earlier. Debt-equity ratio stood at 0.19 times.

Disclaimer: This report is based on audited financial results filed by the company and does not constitute investment advice.