Shares of GMR Airports Infrastructure rose more than 1% on June 7 after a subsidiary of GMR Airports Infrastructure divested its warehouse facility. GMR Hyderabad International Airport, a subsidiary of GMR Airport Infrastructure, has sold a warehouse facility at Hyderabad Airport, the company said in a bourse filing.

The buyer for the facility is ILP Core Ventures I PTE, a unit of India’s largest logistics and industrial real estate operator, Indospace Core PTE Limited, it added.

According to a filing, GMR Hyderabad International Airport has closed a deal worth Rs 1,881 crore with ILP Core Ventures I PTE.

Shares of GMR Airport Infrastructure were trading at Rs 41.88 at 9:18 am, up 0.62%. The stock has fallen about 8% over the past month but has gained 14% over the past year.

The airport developer reported a net loss of Rs 441.47 crore in the March quarter, compared to a loss of Rs 141.28 crore in the corresponding period of the previous fiscal. Despite the loss, GMR’s operating income rose sharply to Rs 1,894.62 crore, up 47.6% from Rs 1,283.6 crore in Q4FY22.

GMR Airports Infrastructure develops, operates and maintains airports and provides integrated security solutions.