Cochin International Airport Ltd (CIAL) handed over Rs.31 crores towards the dividend of the financial year 2017-18 to the State Government. Chief Minister Mr.Pinarayi Vijayan received the cheque from V.J.Kurian, Managing Director, CIAL.
CIAL had registered a net profit of Rs. 158.42 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 consolidated turnover 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 172.33 Cr. The company had declared a dividend of 25% for the fiscal 2017-18 and thus the State Govt. which enjoys a share of 32.42 % has been given Rs.31 Cr towards the dividend. 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 228 %.
Agriculture Minister & Director CIAL Mr. V.S.Sunil Kumar, other directors K.Roy Paul, A.K.Ramani, M.A.Yusuffali, N.V.George, Company secretary Saji K.George were present at the meeting. Cochin International Airport today stands at fourth in the country in terms of international traffic and seventh in total traffic has achieved a major milestone during the 2017-18 fiscal by handling 10 million passengers. CIAL received the coveted ‘CHAMPION OF THE EARTH ‘’ prize; the highest environmental instituted by United Nations in 2018 for successfully implementing the idea of running the airport fully by solar power.
In order to catch up with the momentum of the phenomenal growth of domestic aviation witnessed by the country, CIAL has renovated its old international terminal; T1 for domestic operation. CIAL which became the world’s first airport fully powered by solar energy has a total installed capacity of 40 MWp