GMR Airports to redeem ₹5,000 crore non-convertible bonds by August 30

GMR Airports Limited on Monday (August 18) informed that it has served notice for the voluntary redemption of its non-convertible bonds (NCBs) in line with the provisions of the bond trust deed dated November 17, 2023.The redemption covers three sets of bonds — one worth ₹1,950 crore, another worth ₹800 crore, and a third ₹2,250 crore. Together, these add up to ₹5,000 crore.

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The company stated that the NCBs will be redeemed on or before August 30, 2025, as per the consents received from the NCB holders in accordance with the bond trust deed.First Quarter ResultsThe company’s revenue from operations surged 33.4% to ₹3,205 crore against ₹2,402 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 45.4% to ₹1,306 crore in the first quarter of this fiscal over ₹898 crore year-on-year. The EBITDA margin stood at 40.7% in the reporting quarter compared to 37.4% in the year-ago quarter.

There were multiple exceptional items during the quarter, including creation and reversal of provisions against investments, profit on relinquishment of asset rights, interest waivers on borrowings and disposal of investments. There were exceptional item expenses worth ₹42 crore during the quarter.

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Shares of GMR Airports Ltd ended at ₹90.26, down by ₹0.52 or 0.57%, on the BSE today (August 18).