Cochin International Airport net profit at Rs 156 Cr

Cochin International Airport (CIAL), the first greenfield airport in the country, has achieved a net profit of Rs 156 crore during the last fiscal.

CIAL has registered a net profit of Rs 156 crore out of a turnover of Rs 553.42 crore with an operating profit of Rs 387.92 crore during the financial year 2017-18, the company said in a statement here.

The board of directors met at Thiruvananthapuram with Chief Minister Pinarayi Vijayan in the chair, has proposed a dividend payout of 25 per cent to the investors.

The consolidated turnover of achieved by CIAL and its fully owned subsidiaries like CIAL Duty Free and Retail Services Limited (CDRSL) stands at Rs 701.13 crore.

It was Rs 592.65 crore during FY 2016-17.

The consolidated profit of CIAL and its subsidiaries for the accounting year is 170.03 crore.

CDRSL alone has logged a turnover of Rs 237.25 crore.

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 per cent, the release said.

The Kerala government which enjoys a share of 32.41 per cent in the company has been given Rs 31.01 crore during the last fiscal.

This time the board has proposed a dividend of 25 per cent which has to be ratified by the annual general meeting slated on September 3 in Ernakulam.

Water Resources Minister Mathew T Thomas, Agriculture Minister V S Sunil Kumar and CIAL managing director V J Kurian were among those present at the meeting.

The board reviewed the activities of all verticals and expressed satisfaction.

Cochin International Airport today stands fourth in the country in terms of of international traffic and seventh in total traffic has achieved a major milestone during the 2017-18 fiscal by handling 10 million passengers.