GMR Airports Ltd, a subsidiary of publicly listed GMR Infrastructure Ltd, has acquired 17.03 per cent equity stake in Delhi Duty Free Services Private Ltd.
Delhi Duty Free Services is operating, maintaining and managing the duty free outlets at IGI Airport, New Delhi, under concession from the Delhi International Airport Private Ltd for 15 years up to 2024-25.
The other shareholders of Delhi Duty Free Services Private Ltd are Delhi International Airport Private Ltd (49.9 per cent) and Yalorvin Ltd (33.07 per cent) (a subsidiary of AerRianta International cpt, wholly owned by the Dublin Airport Authority, an undertaking of the Government of Ireland).
GMR Infra’s revenue from airport business for financial year 2012-13 was higher by 39 per cent to Rs 6,122 crore against Rs 4,405 crore last year.
The company reduced its loss to Rs 41 crore in FY 2012-13 from Rs 1,022 crore losses in 2011-12.
Traffic at Delhi airport was flat at 9.3 million for the fourth quarter and stood at 34.3 million for the whole year.