RGIA soars to profitability, reports Rs 32.99 crores in fiscal year 2022-23

The Rajiv Gandhi International Airport, Shamshabad has showcased an impressive financial resurgence, steering away from consecutive losses to a noteworthy profit in the fiscal year 2022-23.

Hyderabad: Rajiv Gandhi International Airport, Shamshabad, managed and operated by GMR Hyderabad International Airport Limited (GHIAL), has showcased an impressive financial resurgence, steering away from consecutive losses to a noteworthy profit in the fiscal year 2022-23.

According to data revealed by Ministry of Civil Aviation, airport faced substantial financial challenges in the preceding fiscal years of 2020-21 and 2021-22, reporting losses amounting to Rs 151.00 crores and Rs 108.1 crores, respectively. However, the airport’s most recent fiscal year marked a key moment as it managed to reverse this trend, achieving a notable profit of Rs 32.99 crores.

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Meanwhile, the financial performance analysis of Begumpet Airport, operated by the Airports Authority of India (AAI), over the past three fiscal years indicates a concerning trend of mounting losses.

In the fiscal year 2020-21, the airport reported a loss amounting to Rs 33.65 crores. This initial deficit worsened in the subsequent year, with the airport experiencing an increased loss of Rs 41.40 crores in 2021-22. However, the most recent fiscal year, 2022-23, revealed a significant exacerbation of financial challenges, with losses soaring to Rs 79.96 crores.