Cochin International Airport Limited (CIAL) has registered a net profit of Rs. 156 Cr. out of a turnover of Rs. 553.42 Cr with a stupendous operating profit of Rs.387.92 Cr. during the financial year 2017-18. The board of Directors met at Thiruvananthapuram with the Chief Minister Pinarayi Vijayan at the chair has proposed a dividend payout of 25% 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 Cr. It was Rs.592.65 Cr during FY 2016-17. The consolidated profit of CIAL and its subsidiaries for the accounting year is 170.03 Cr. CDRSL alone has logged a turnover of Rs. 237.25 Cr. 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 %. The Government of Kerala which enjoys a share of 32.41 % in the company has been given Rs.31.01 Cr. during last fiscal.
This time the board has proposed a dividend of 25% which has to be ratified by the annual general meeting slated on 3rd September 2018 at Fine arts hall, Ernakulam. Water Resources Minister Mathew T.Thomas, Agriculture Minister V.S.Sunil Kumar, K.Roy Paul, A.K.Ramani, M.A.Yusuffali, E.M.Babu, N.V.George, CIAL managing director V.J.Kurian, Company secretary Saji K.George were present at the meeting. The board reviewed the activities of all verticals and expressed satisfaction.
Cochin International Airport today stands at 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. In order to catch up with the momentum of the phenomenal growth of domestic aviation witnessed by the country, CIAL is renovating its old international terminal; T1 for domestic operation. The six lakh square feet renovated terminal will be opened for domestic passengers soon. CIAL which became the world’s first airport fully powered b solar energy has a total installed capacity of 30 MWp as of now and scaling up it to 40 MWp is underway.