Subsequent to the issuance of the LOA, the company has entered into a license agreement on 21 August 2024 towards the said Delhi Duty Free Concession, to take up the operations from 28 July 2025 onwards.
The company stated that GMR Airports (since merged into the company) had participated in the bidding process and submitted its bid for the RFP issued by DIAL for the grant of license for a long-term period to design, develop, finance, set up, operate, manage and maintain the Duty Free Outlet(s) at IGI Airport, New Delhi in April 2024.
GMR Airports Infrastructure is mainly engaged in development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones.
The firm reported a consolidated net loss of Rs 337.57 crore in Q1 FY25 as against a net profit of Rs 15.45 crore recorded in Q1 FY24. Revenue from operations increased 19.06% year on year (YoY) to Rs 2,402.20 crore during the June 2024 quarter.
Shares of GMR Airports Infrastructure added 0.84% to currently trade at Rs 95.60 on the BSE.