New Delhi, February 14 GMR Airports Ltd (GAL) saw its consolidated profit after tax decline by 14% to Rs 173.96 crore for the three months ending December 2025, which also included one-time expenses, including those related to the impact of the new labor laws.
The company, which operates airports in Delhi, Hyderabad, and a few other locations, had a profit after tax of Rs 202.10 crore in the previous year.
In the latest December quarter, the company recorded one-time expenses totaling Rs 183.12 crore, including Rs 113.47 crore related to the termination of the agreement with the Turkish entity Celebi, and Rs 69.65 crore related to the impact of the new labor codes.
The company also recorded a one-time gain in the December quarter of 2024.
According to a regulatory filing on Friday, GMR Airports' total income surged to Rs 4,082.77 crore in the third quarter of the current fiscal year from Rs 2,748.22 crore a year ago.
In the latest December quarter, the company's total expenses rose to Rs 2,293.49 crore.
Meanwhile, in May 2025, the government revoked the security clearance of entities operating in India from the Celebi group.
Subsequently, Delhi International Airport Ltd (DIAL) terminated the cargo concession agreement with Celebi and Celebi Hava Servisi AS.
DIAL, which operates the Delhi airport, derecognized the balances related to lease equalization and the provision for annual fees payable to AAI (Airports Authority of India) under the land lease agreement with Celebi, the filing said.
Also, DIAL performed the remeasurement of the security deposit refundable to Celebi, as per the requirements of Ind AS 109. "The net impact of the aforementioned items amounting to Rs 113.47 crore is disclosed as an 'exceptional item' in the consolidated financial results for the quarter and nine months ended December 31, 2025," it added.
DIAL-owned airports handled a record 31.9 million passengers in the December quarter, with Delhi airport handling 20.8 million passengers.
DIAL, the consortium led by the GMR Group, recorded a profit after tax of Rs 231 crore in the December 2025 quarter, turning profitable from a loss of Rs 243 crore in the previous year.
Its profit after tax is the highest since the third quarter of the financial year 2021-22.
