CIAL net up 17%

Cochin International Airport Limited (CIAL) registered a 17 per cent growth in net profit at Rs 37.18 crore during the financial year 2006-07, as against Rs 31.78 crore in the previous fiscal.

In the domestic sector, the company registered a growth of 73 per cent while the international services increased around 34 per cent. Passenger movement also increased from 1.9 million in 2005-06 to 2.8 million in 2006-07, up 36 per cent, according to a press release.

During 2006-07, CIAL increased its authorised equity capital from Rs 200 crore to Rs 400 crore. The paid-up capital increased from Rs 148 crore to Rs 296 crore.

The Kerala government holds 33 per cent of the paid-up capital and the state's public sector undertakings jointly hold around 2 per cent.

CIAL declared a dividend of 8 per cent and the total pay out by way of dividend for the year 2006-07 stood at Rs 20.6 crore including dividend tax. The pay out for the year 2005-06 was Rs 16.88 crore.

S Bharath, managing director, CIAL, handed over a cheque Rs 5.40 crore towards dividend to chief minister VS Achuthanandan. The company paid Rs 4.93 crore dividend to the government in the previous year.