25% Dividend for shareholders
The installation capacity of the solar power plant of Cochin International airport will be doubled by February 2017 as informed by Chief Minister of Kerala Pinarayi Vijayan. Being the chairman of CIAL, the company which operates the Cochin Airport, he was addressing the 22nd annual general body meeting (AGM) of the shareholders. The AGM ratified the director board ’s all recommendations including the doubling of the solar power generation capacity. It also approved to release a 25 % dividend to the 18,000 investors for the FY 2015-16 resulting the total dividend pay out since 2003-04 to 178 %.
Mr.Pinary Vijayan divulged many a programme to ensure the growth of the company which include boosting up the performances of all verticals and plans for diversification. With the commissioning of the 12 MWp solar power plant, installed near the cargo premises, CIAL became the first airport in the world fully powered by solar energy. It increased the power generation to 15.4 MWp by the installation of more photo voltaic panels. So far, the total installations produced 23.5 million units of power. Following the huge success of experimenting with alternate energy sources, the company has now decided to produce 1.15 million units of power a day by doubling the solar power capacity, he said.
Mr.Pinaryi Vijayan cited that the company has shown up a stupendous performance during 2015-16 Fiscal. It logged a net profit of Rs.175.22 Cr, with a turnover of Rs. 524.53 Cr. When compared to the previous FY, the rate of growth of profit was 21.12 % and that of turn over was 26.71 %. The airport has handled 7.77 million passengers during the last FY. The new international terminal will be operational with in two months. The company has also devised a master plan for land utilization with the help of Ernst- Young. The construction of 1931 meter four lane road including two fly overs will be completed by next month, he said.
Mr.V.J.Kurian, Managing Director, CIAL rendered welcome address. Mr.V.S.Sunil Kumar, Minister , Mr.M.A.Yusuffali, Mr.C.V.Jacob, Mr.N.V.George, Mr.E.M.Babu, Mr. K.Roy Paul, Mrs.A.K.Ramani, all directors of CIAL, Mr.Saji K.George, Company Secretary, Mr. Sunil Chacko participated in AGM deliberations.