GMR Airports swings to ₹472 cr profit as traffic and cargo recover
The airport operator turned a profit for FY26 after a loss of ₹817 cr in the prior year, aided by a 42% revenue jump and accounting changes.
— 2 earlier stories on GMR Airports Ltd. →What's new
- Consolidated net profit reached ₹472 cr, reversing an ₹817 cr loss in FY25.
- Revenue climbed 42% to ₹14,807 cr, driven by new duty-free and cargo operations.
- A 50-year useful life revision for terminal buildings cut depreciation by ₹151 cr.
Why this matters
The turnaround is driven by the full-year impact of new commercial concessions at Delhi and Hyderabad. The profit improvement is clear, but the accounting change regarding depreciation provided a non-operational lift to the bottom line. The next test is sustaining this momentum without further accounting adjustments.
What we're watching
- Whether passenger traffic growth maintains its current pace in FY27.
- The contribution of new cargo businesses to operating margins.
- Future capital expenditure plans for airport infrastructure.
The full read
GMR Airports ended FY26 with a consolidated net profit of ₹472 crore, a sharp reversal from the ₹817 crore loss recorded in FY25. Revenue from operations grew 42% to ₹14,807 crore, fueled by the full-year impact of new duty-free and cargo concessions at its Delhi and Hyderabad hubs. Beyond operational gains, the company lowered its depreciation expense by ₹151 crore by extending the estimated useful life of its terminal buildings to 50 years. This accounting adjustment provided a cushion to the reported profit. The operational turnaround is clear, but the reliance on depreciation changes to lift the bottom line is a factor to monitor. The company also appointed Narasimha Murthy & Co as cost auditor for the upcoming year. The results reflect a recovering aviation sector, yet the scale of future growth depends on how well these new commercial businesses scale in the coming quarters.
Questions answered
- What caused the swing from loss to profit?
- The company benefited from recovering passenger traffic and the full-year contribution of new duty-free and cargo businesses at Delhi and Hyderabad airports.
- How much did the accounting change affect the bottom line?
- The board revised the estimated useful life of terminal buildings to 50 years, which reduced the depreciation charge by ₹151 crore.
- What was the revenue growth for the year?
- Revenue from operations rose 42% to ₹14,807 crore compared to the previous financial year.
- Who is the new cost auditor?
- The board approved the appointment of Narasimha Murthy & Co as the cost auditor for the 2026-27 financial year.
Story so far
All notes on GMRAIRPORT →- 27 May 2026 · 10:10 PM IST GMR Airports swings to ₹472 cr profit as traffic and cargo recover
- today GMR Airports posts first annual profit in over a decade
- today GMR Airports swings to profit as revenue climbs in FY26