GMR Airports trades down despite lower Q1 losses, nod to raise Rs 5,000 cr

The share price gained over 50 percent in the last one-year.

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Shares of GMR Airports Infrastructure were marginally down in early trade on August 16 even after the company narrowed its losses in the quarter ended June 2023.

At 9:29am, the GMR Airports Infrastructure stock was quoting Rs 52.50, down Rs 0.40, or 0.76 percent, on the BSE.

The company’s Q1 consolidated losses stood at Rs 29.8 crore as against Rs 137 crore incurred a year back. Its consolidated revenue from operations grew by 40.2 percent on-year to Rs 2,017.6 crore during the quarter.

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The company’s board has approved to raise up to Rs 5,000 crore in one or more tranche(s) through issue of securities including a qualified institutions placement and/or foreign currency convertible bonds and/or any other securities, subject to approval of shareholders and other regulatory and/or statutory approvals, as applicable.

Read: GMR Airports Infrastructure plans to raise Rs 5,000 crore

The share touched a 52-week high of Rs 54.70 and a 52-week low of Rs 33.35 on 11 August, 2023 and 24 August, 2022, respectively.

The stock is now trading 4.02 percent below its 52-week high and 57.42 percent above its 52-week low. The share price gained over 50 percent in the last one-year.

The company undertakes the development of the infrastructure projects through its various subsidiaries. The company is engaged in restructuring and modernisation of airports.