Cochin International Airport hands over Rs. 31 crores as dividend to GoK


Trivandrum: Cochin International Airport Ltd (CIAL) today handed over Rs. 31 crores as the dividend for the financial year 2016-17 to the Government of Kerala. The demand draft of the dividend was handed over to Chief Minister, Shri Pinaryi Vijayan who is also the Chairman of CIAL by Shri Mathew T Thomas, Minister for Water Resources & Director, CIAL; in the presences of Shri V S Sunil Kumar, Agriculture Minister; V J Kurian, MD of CIAL; and Saji K George, Company Secretary.

CIAL and its fully owned subsidiary, Cochin Duty-Free & Retail Services Ltd had registered a cumulative turnover of Rs. 669.06 crores for FY 2016-17. CIAL’s profit (after tax) for the FY was Rs 179.45 crores. This year the company has declared a dividend of 25% to the 18,300 investors spread across 30 countries.

The Government of Kerala has a stake of 32.42% in the company and was given Rs. 31 crores as the dividend. The company has been paying dividend unfailingly since 2003-04 and with this year the total payout has touched 203%. So far, the government has received Rs.193.53 crores as the dividend from the company.

CIAL which stood at fourth in the country in terms of international passenger traffic has handled 8.94 million passengers during FY 2016-17. The growth of total traffic compared to the previous FY is 15.06%. The financial year witnessed the commissioning of many big projects including the 1.5 million square feet Terminal-3.

The Kochi airport located at Nedumbassery near Angamaly has got international acclaims for its efforts in adopting green ideas and became the first airport in the world to be fully powered by solar energy in 2015. The installed capacity of its solar plants has been scaled up to 23.2 MWp during FY 2016-17 and will be further enhanced to 40 MWp during FY 2017-18.

Kerala Biz News


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