The twenty fifth annual general meeting (AGM) of Cochin International Airport Limited (CIAL) held at Fine Arts Hall, Kochi endorsed the proposal of its board of directors to give out a dividend of 27 % to the shareholders of the company. While addressing the shareholders as the Chaiarman of the company, Chief Minister Mr.Pinarayi Vijayan, has said that CIAL is one of the best institutions in the state and though there are a lot to mention about its achievements during the previous fiscal, the observance of model code of conduct prompted him to refrain from it.
CIAL has registered a net profit of Rs. 166.92 crores out of a turnover of Rs. 650.34 Cr. during the financial year 2018-19. The board of Directors held in June had proposed a dividend of 27% to the investors. Despite the closure of the airport for 15 days due to the August flood, the company registered an increase of turnover of 17.52 %. The turnover during 2017-18 was 553.41 Cr. The profit (after tax) wass increased by 7%; ie, 155.99 Cr in 2017-18 to 166.92 Cr in 2018-19. The consolidated turnover achieved by CIAL and its fully owned subsidiaries like CIAL Duty Free and Retails Services Ltd (CDRSL) stands at 807.36 Cr for the accounting FY. It was Rs.701.13 Cr in 2017-18. The consolidated profit is increased from 169.92 Cr. in 2017-18 to 184.77 Cr. in the accounting year. CDRSL alone has logged a turnover of Rs.240.33 Cr.
CIAL, which pioneered the idea of PPP model in airport infrastructure development enjoys a base of more than 18,000 investors from 30 countries was incorporated in 1994 and the airport was inaugurated 20 years back, in 1999. The company has been paying dividend consistently since 2003-04 and with the endorsement of the 25th AGM held on Saturday, the total dividend pay-out touched 255 %. The Government of Kerala which has a share of 32.41 % in the company will be given Rs.33.44 Cr as dividend from CIAL. CIAL directors K.Roy Paul, A.K.Ramani, M.A.Yusuffali, E.M.Babu, Managing Director V.J.Kurian, Company Secretary Saji K.George, Chief Financial Officer Sunil Chacko 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 been handling more than 10 million passengers a year since 2017-18. CIAL became the world’s first airport fully powered by solar energy in 2015. The airport has received ‘ The Champions of the Earth award’ in 2018 ; the highest environmental honour instituted by the United Nations for the successful deployment of solar energy in operating an airport. The total installed capacity is 40 MWp and the solar plants generate 1.62 lakh units of power a day whereas the consumption stands at 1.52 lakh units.