CIAL makes Rs 179.45 cr profit for fiscal 2016-17

Cochin International Airport Ltd along with its subsidiary Cochin Duty Free and Retail Services Ltd has made a profit of Rs 179.45 crore after interest for the financial year 2016-17.

CIAL, the first PPP (Public Private Partnership) model to run an airport, had registered total revenue of Rs 669.09 crore for the financial year 2016-17, Chief Minister Pinarayi Vijayan, also the company Chairman, said in a Facebook post.

The company handed over a Demand Draft of Rs 31 crore to the government as its profit share at a function here today, he said.

The company has been giving the profit share to the government, which has 32.42 per cent equity share in it, since 2003-04.
 

Vijayan said that the company has declared a dividend of 25 per cent to its 18,300 shareholders.

A total of 89.4 lakh passengers used Kochi International airport during the period, an increase of 15.06 per cent over the previous year.

State Minister Mathew T Thomas, who is also the Director of the company, handed over the Demand Draft to the Chief Minister.