Surge in duty-free sales and non-aeronautic revenues has contributed substantially to the revenue growth of Cochin International Airport Ltd during FY-12.
The company recorded a profit after tax of Rs 102 crore in 2011-12 as against Rs 90 crore in the preceding year. The pretax profit also showed a marked improvement from Rs 116 crore during 2010-11 to Rs 134 crore during the current year.
CIAL has been consistently generating profits from 2003-04, barely 3 years after its commissioning in 1999. Right from the beginning, the company has been focusing on non aeronautic revenue to drive growth, a statement issued here said.
This year, the duty free sales have been the main driver of revenue. The main contribution to revenue growth came from duty free sales which jumped by more than 27 per cent to Rs 93.64 crore. Rent and services and royalties accounted for Rs 80.31 crore. The aeronautic sources of income such as landing, parking and other charges contributed Rs 57.10 crore. Cargo income contributed around Rs 14.50 crore.
The passenger movement for 2011-12 was around 4.72 million comprising of 2.6 million international passengers and 2.12 million domestic passengers.
The total revenue for 2011-12 was Rs 276 crore as against Rs 246 crore for the preceding year, recording a topline growth of 12 per cent.
The board of directors of CIAL also decided to recommend a dividend of 16 per cent to the shareholders. This, if approved at the Annual General Meeting of the company scheduled on September, would entail a pay out of Rs 47 crore to the shareholders, the statement added.