Financial Performance - GMR

Delhi Airport: Financial Performance
Rs. mn
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Quarterly Results Annual Results
Q4 FY09 Q1 FY10 Q1 FY09 FY 09 FY 08
Gross Revenue 2,391 2,577 2,282 9,476 8,706
Aero Revenue 866 919 898 3,421 3,219
Non Aero Revenue 1,525 1,658 1,384 6,056 5,487
Less: Revenue Share 1,110 1,189 1,059 4,406 4,027
Net Revenue 1,281 1,388 1,223 5,070 4,679
Total Expenditure 1,156 937 1,058 4,444 3,748
EBITDA 125 451 166 626 931
EBITDA margin 5.2% 32.5% 13.5% 12.4% 19.9%
Other Income (20) 7 16 50 48
Interest & Finance Charges 258 327 3 494 5
Depreciation 232 247 23 525 91
PBT (385) (116) 155 (342) 883
Tax (127) (37) 5 (107) 316
PAT (Before Minority Interest) (259) (80) 150 (235) 567
PAT Margin (10.8)% (5.7)% 12.3% (4.6)% 12.1%
Minority Interest (129) (39) 75 (117) 283
PAT (After Minority Interest) (130) (40) 75 (118) 284
Cash Profit (27) 131 173 159 948
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Increase in Q1 FY10 Non-Aero revenue (YoY) is mainly due to 1) Increase in Duty-Free revenue due to leasing of additional space;
2) Baggage screening charges for International Terminal initiated in Aug 2008; 3) Additional land leased for Hanger.
Reduction in Q1 FY10 Expenses (YoY) as Operation Support Period for AAI employees was completed in May 2009.
Increase in Q1 FY10 Interest and Depreciation (YoY) due to capitalization of New Runway and Domestic Departure Terminal (T1D)