CIAL logs a net profit of Rs.167 crores, Board proposes 27% dividend

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Kochi: Cochin International Airport Ltd (CIAL) has registered a net profit of Rs. 166.92 crores out of a turnover of Rs. 650.34 crores during the financial year 2018-19. The board of Directors has proposed a dividend of 27% to the investors.

Despite the closure of the airport for 15 days due to the August flood, the company registered an increase of turnover of 17.52 %. The turnover during 2017-18 was 553.41 crores. The profit (after tax) has increased by 7% on a YoY basis; ie, 155.99 crores in 2017-18 to 166.92 crores in 2018-19. The consolidated turnover achieved by CIAL and its fully owned subsidiaries like CIAL Duty-Free and Retails Services Ltd (CDRSL) stands at 807.36 crores for the accounting FY. It was Rs.701.13 crores in 2017-18. The consolidated profit has increased from 169.92 crores. in 2017-18 to 184.77 crores. in the accounting year. CDRSL alone has logged a turnover of Rs.240.33 crores.

CIAL, which pioneered the idea of PPP model in airport infrastructure development enjoys a base of more than 18,000 investors from 30 countries, was incorporated in 1994 and the airport was inaugurated 20 years back, in 1999. The company has been paying dividend consistently from 2003-04 and with the last fiscal; the total dividend pay-out touched 228 %.

The Government of Kerala which has a share of 32.41 % in the company has been given Rs.31 crores as dividend during the last fiscal. For the 2018-19 FY, the board has proposed a dividend of 27% which has to be ratified by the annual general meeting slated to be held on 28th September 2019.

Cochin International Airport today stands at fourth in the country in terms of international traffic and seventh in total traffic, has been handling more than 10 million passengers a year since 2017-18. CIAL became the world’s first airport fully powered by solar energy in 2015. The airport has received ‘The Champions of the Earth award’ in 2018; the highest environmental honour instituted by the United Nations for the successful deployment of solar energy in operating an airport. The total installed capacity is 40 MWp and the solar plants generate 1.62 lakh units of power a day whereas the consumption stands at 1.52 lakh units.

Kerala Biz News

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