GMR AIRPORTS

GMR Airports reported a resilient Q4 FY26 with total income of INR 40.4 billion, up 36Current reported value: 36. No comparable prior figure is available in the source record.% YoY, and EBITDA of INR 15.5 billion, up 38% YoY. PAT turned positive at INR 4 billion versus a loss of INR 2.5 billion in Q4 FY25. Traffic across GAL-operated airports grew only 1% YoY to 31.7 million passengers, impacted by geopolitical conflicts, airspace closures, and fuel price spikes. Management expects a 5-7% traffic growth for FY27, with recovery in H2 as conditions normalize. Non-aero revenue momentum continues, with duty-free and cargo expansions. Risks include prolonged geopolitical tensions and potential traffic cannibalization from Noida airport. Capex for FY27 is guided at ~INR 1,400Current reported value: 400. No comparable prior figure is available in the source record. crore, primarily for Bhogapuram and Nagpur airports.