CIAL hands over Rs 33.49 crore as dividend to Kerala govt

Cochin International Airport Ltd (CIAL) on Tuesday handed over to the Kerala government Rs 33.49 crore as dividend for the financial year 2018-19.

Chief Minister Pinarayi Vijayan received the cheque for the amount from the managing director of CIAL VJ Kurian.

CIAL registered a net profit of Rs 166.92 crore on a turnover of Rs 650.34 crore 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 Rs 807.36 crore. The consolidated profit of CIAL and its subsidiary for the accounting year is Rs 184.77 crore, the company said in a statement here.

The company had declared a dividend of 27 per cent for 2018-19 and as the state government holds a share of 32.42 per cent, it got Rs 33.49 crore as dividend, the statement said.

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 dividend from 2003-04 and with the last fiscal the total dividend pay-out touched 255 per cent, it said.

CIAL today stands fourth in the country in terms of of international traffic and seventh in total traffic.

The airport handled 10 million passengers during the last two financial years.

The dividend cheque was handed over during the director board meeting of the company, the statement said.

Pinarayi Vijayan, who is also the chairman of the company, presided over the meeting, it said.

CIAL directors Thomas Isaac, who is also state Finance Minister, Roy K Paul, A K Ramani, N V George, V J Kurian and Company Secretary Saji K George were present, it added.