Cochin International Airport Limited (CIAL) has registered a net profit of Rs 156 crore on a turnover of Rs 553.42 crore in FY18. The operating profit touched Rs387.92 crore during the period.
The rise in non-aero revenue, duty free business and passenger traffic are some of the contributing factors for the good performance.
The board of directors which met at Thiruvananthapuram under the chairmanship of Chief Minister Pinarayi Vijayan has proposed a dividend of 25 per cent to investors.
The consolidated turnover of achieved by CIAL and its fully owned subsidiaries such as CIAL Duty Free and Retail Services Limited stood at Rs 701.13 crore. The consolidated profit of CIAL and its subsidiaries for the accounting year is Rs 170.03 crore. CDRSL alone has garnered a turnover of Rs 237.25 crore.
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 per cent. The Kerala Government which enjoys a share of 32.41 per cent in the company has been given Rs 31.01 crore during last fiscal.
CIAL today stands fourth in the country in terms of of international traffic and seventh in total traffic. Ithas achieved a major milestone during the 2017-18 fiscal by handling 10 million passengers. To catch up with the momentum of the phenomenal growth of domestic aviation in 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.