Hyderabad Airport expansion project nears completion, capacity set to increase
Passenger traffic at RGIA, Shamshabad soared to 6 million in Q2FY24, marking a 24 per cent year-on-year increase from 4.9 million in Q2FY23.
Hyderabad: Hyderabad’s GMR Hyderabad International Airport Limited (GHIAL) has achieved remarkable growth and milestones in its second quarter of the fiscal year 2023-24 (Q2FY24) report, showcasing a significant surge in passenger traffic and financial performance.
Passenger traffic at RGIA, Shamshabad soared to 6 million in Q2FY24, marking a 24 per cent year-on-year increase from 4.9 million in Q2FY23. This growth was primarily driven by a substantial 24 per cent increase in domestic traffic and 23 per cent rise in international traffic, the report said.
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GHIAL’s financials too witnessed growth, with total income reaching Rs 502 crore in Q2FY24, a notable 53 per cent year-on-year surge from Rs 328 crore in Q2FY23. The half-yearly total income also surged by 56 per cent to Rs 976 crore in H1FY24.
EBITDA surged to Rs 339 crore in Q2FY24, marking a substantial 69 per cent year-on-year increase from Rs 201 crore in Q2FY23. On a half-yearly basis, EBITDA escalated by 74 per cent to Rs 665 crore in H1FY24, driven by increased revenues from both aero and non-aero sources. Profit after tax (PAT) showed remarkable growth, reaching Rs 71 crore in Q2FY24.
GHIAL has made significant strides in expanding its capacity, with the ongoing project to increase capacity from 12 million to 34 million passengers. The financial report stated that as of September 30, 2023, the project has achieved an impressive 94.9 per cent completion, and as of October 18, 2023, it reached 95.4 per cent progress.
The airport has enhanced its connectivity, 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 have earned 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.
Moreover, the airport maintained an ASQ score of 5 for Q2FY24, emphasizing its commitment to delivering exceptional service quality.
