CIAL registers Rs.166.92 cr net profit, pays Rs.33.49 cr dividend to Kerala Government

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Trivandrum: Cochin International Airport Ltd (CIAL) handed over ?33.49 crores as the dividend for the financial year 2018-19 to the Kerala government. Chief Minister, Shri Pinarayi Vijayan received the cheque from V J Kurian, Managing Director of CIAL during the director board meeting of the company today at Thiruvananthapuram. CIAL operates the Kochi International airport at Nedumbassery, near Angamali.
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CIAL registered a net profit of ? 166.92 crores on a turnover of ? 650.34 crores during FY 2018-19. The consolidated turnover achieved by CIAL and its fully owned subsidiary, CIAL Duty-Free and Retail Services Ltd (CDRSL), stands at ?807.36 crores. The consolidated profit of CIAL and its subsidiary for the accounting year is ?184.77 crores. The company had declared a dividend of 27% for 208-19 and as the State government holds a share of 32.42 per cent, it got ?33.49 crores as the dividend.

CIAL, which pioneered the idea of PPP model in airport infrastructure development, enjoys a base of more than 19,000 investors from 30 countries and has been paying a dividend from 2003-04 and with the last fiscal the total dividend pay-out touched 255 %. CIAL today stands fourth in the country in terms of international traffic and seventh in total traffic. The airport handled 10 million passengers during the last two financial years.

The Chief Minister who is also the Chairman of the company chaired the board meeting. CIAL directors, Finance Minister, Dr Thomas Isaac; Roy K Paul; A K Ramani; N V George; and Company Secretary, Saji K George were among those present.

Kerala Biz News

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