CIAL logs a net profit of Rs. 156 Cr, proposes 25% dividend

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Kochi: Cochin International Airport Limited (CIAL) has registered a net profit of Rs. 156 crores from a turnover of Rs. 553.42 crores with an operating profit of Rs.387.92 Cr. during the financial year 2017-18. The Board of Directors which met today at Thiruvananthapuram has proposed a dividend payout of 25% to the investors.

The consolidated turnover achieved by CIAL and its fully owned subsidiaries like CIAL Duty-Free and Retail Services Limited (CDRSL) stands at Rs.701.13 Cr. It was Rs.592.65 Cr during FY 2016-17. The consolidated profit of CIAL and its subsidiaries for the accounting year is 170.03 Cr. CDRSL alone has logged a turnover of Rs. 237.25 Cr. CIAL, which pioneered the idea of PPP model in airport infrastructures development enjoys a base of more than 18,000 investors from 30 countries has been paying dividend unfailingly from FY 2003-04 and with the last fiscal the total dividend payout touched 203 %. The Government of Kerala which enjoys a share of 32.41 % in the company has been given Rs.31.01 Cr. during last fiscal.

This time the board has proposed a dividend of 25% which has to be ratified by the annual general meeting to be held on September 03, 2018 at Ernakulam. The board reviewed the activities of all verticals and expressed satisfaction.

The Cochin International Airport at Nedumbaserry near Angamaly stands fourth in the country in terms of international traffic and seventh in total traffic has achieved a major milestone during the 2017-18 fiscal by handling 10 million passengers. In order to catch up with the momentum of the phenomenal growth of domestic aviation witnessed by the country, CIAL is renovating its old international terminal; T1 for domestic operation. The six lakh square feet renovated terminal will be opened for domestic passengers soon. CIAL which became the world’s first airport fully powered b solar energy has a total installed capacity of 30 MWp as of now and scaling up it to 40 MWp is underway.

Kerala Biz News

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