Riding on the growth in passenger traffic, GMR Hyderabad International Airport Ltd is likely to post profit for the current financial year, a top official of the company said.
The company will also begin repayment of loans taken for the development of the airport this year, he added.
"We are making cash profits from the airport operations and may post Profit After Tax (PAT) this financial year (2009\10)" Group CFO Subba Rao told PTI.
Incidentally, the company has also requested for a hike in the User Development Fees (UDF) from Rs375 to Rs500 for domestic passengers and from Rs1,000 to Rs1,300 for
international passengers. The request is pending with Airport Revenues Regulatory Authority (AERA), he said.
The company had raised Rs1,678 crore loan from a consortium of banks and financial institutions for the construction of airport besides availing of Advance fund grant of Rs315 crore and Rs107 crore interest-free loan from the Andhra government.
"The principal repayment begins this financial year and we will pay Rs 60 crore as first instalment," Subba Rao said.
The company is likely to post a turnover of about Rs500 crore this fiscal against Rs412 crore last year, he said adding there was an increase of 3% in passenger traffic and 14% jump in cargo in last three quarters.
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