Aviation Sector Penny Stock Under Rs 100: Company successfully made acquisition of a significant stake in Bird Delhi General Aviation Services Private Ltd
Over the past year, the stock has seen a return of -14.43 per cent, while over a three-year period, it has achieved a return of 99.14 per cent.
GMR Airports Ltd has announced the successful acquisition of a significant stake in Bird Delhi General Aviation Services Private Limited (BDGASPL), marking a strategic expansion in the aviation sector. The company acquired 4,90,000 equity shares and 1,86,20,000 non-cumulative compulsorily convertible preference shares, representing 49 per cent of BDGASPL's paid-up share capital. This acquisition establishes BDGASPL as an associate of GMR Airports Limited, enhancing its portfolio in the aviation services domain.
GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, is headquartered in New Delhi and has a registered office in Gurugram, Haryana. GMR 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, and construction business including Engineering, Procurement and Construction (EPC) contracting activities. This acquisition aligns with the company's strategic initiatives to strengthen its foothold in the aviation industry.
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GMR Airports Limited's current stock market price is Rs 73.9, with a market capitalisation of Rs 78,041 crores. The stock has experienced a 52-week high of Rs 103.7 and a low of Rs 67.75. Over the past year, the stock has seen a return of -14.43 per cent, while over a three-year period, it has achieved a return of 99.14 per cent.
In the Quarterly Results of December 2024, the company reported revenue of Rs 2,653.24 crore, compared to Rs 2,495.46 crore in September 2024 and Rs 2,226.65 crore in December 2023, reflecting a year-on-year growth of 19.16 per cent and a quarter-on-quarter growth of 6.32 per cent. The net profit stood at Rs 266.79 crore, improving from a net loss of Rs 280.40 crore in September 2024 and Rs 317.46 crore in December 2023. The net profit margin was 10.06 per cent in December 2024, compared to -11.24 per cent in September 2024 and -14.26 per cent in December 2023.
For the financial year 2024, the company reported revenue of Rs 8,754.56 crore, up from Rs 6,673.80 crore in the financial year 2023, reflecting a growth of 31.18 per cent. The net loss reduced to Rs 276.23 crore in FY24 from Rs 1,615.79 crore in FY23, showing an improvement of 82.90 per cent. The net profit margin stood at -18.46 per cent in FY24, compared to -26.42 per cent in FY23.
Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.