GMR Airports Infrastructure shares gained in early trade on Wednesday after the airport operator announced its business update for passenger traffic in December. 

GMR Airports Infrastructure’s shares hit an intraday high of Rs 85.70, 1.6% higher than its previous closing price on the National Stock Exchange (NSE). However, the stock lost early gains and closed 1% lower at Rs 83.50.

GMR Airports Infrastructure served approximately 1.09 crore passengers through its airports in Delhi, Hyderabad, Goa, Indonesia, and the Philippines in December 2023. The passenger traffic on the company-operated airports saw a 10.5% rise on a month-on-month basis and a 15.3% rise on a year-on-year (YoY) basis, led by the traffic from the festive season. 

In an exchange filing, GMR Airports said that the traffic at Delhi airport was the highest at 66 lakh passengers and continues to rise. In FY24 so far, the company’s airports have served over 5.45 crore passengers. 

Moreover, in December, a total of 68,095 aircraft movements were seen. This number was up 6.2% over November 2023 and up 8.3% YoY.  

In December 2023, GQG Partners Emerging Markets Equity Fund bought a 4.7% stake in the company, amounting to around 28.29 crore equity shares for Rs 1,671 crore through open market transactions.