AAI reports Rs 34 billion profit, rebounds with surging revenues

23 May 2023 CW Team

The Airports Authority of India (AAI) has bounced back into profitability, reporting a profit of Rs 34 billion in the fiscal year 2022-23 ending in March, propelled by a surge in domestic air traffic. This marks the first profit for AAI since the COVID-19 pandemic severely impacted air travel and the aviation industry as a whole. In the previous two financial years, AAI had reported losses. In the fiscal year ending March 2022, the loss amounted to Rs 8.03 billion, while it stood at Rs 31.76 billion in the fiscal year ending March 2021. These figures exclude exceptional items and taxes.

According to an insider source, AAI's provisional figure for the 2022-23 financial year is a profit of Rs 34 billion, with the final audited results yet to be determined. The source attributes this positive performance to the substantial growth in domestic air traffic. In 2022, domestic air passenger traffic surged by 47.05%, reaching 12.32 crore compared to 8.38 crore in the previous year. Official data reveals that passenger numbers further soared by 51.70% in the first three months of this year, totaling 3.75 crore compared to 2.47 crore in the same period last year.

In the 2021-22 fiscal year, AAI recorded a modest profit of Rs 87.6 million, including exceptional items and taxes. In the fiscal year ending March 2022, the government waived the compulsory dividend payment requirement. AAI had sought this waiver as a result of the waiver granted to Air India before its sale to the Tata Group in January 2022. AAI manages a total of 137 airports, including 24 international and 80 domestic airports. It also provides Air Traffic Management Services (ATMS) across the entire Indian airspace and adjacent oceanic areas.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..