CIAL posts ₹156 cr. net, to pay 25% dividend
Cochin International Airport Limited (CIAL) has registered a net profit of ₹156 crore on a turnover of ₹553.42 crore during the 2017-18 fiscal. It recorded an operating profit of ₹387.92 crore. A meeting of the board of directors of the company held here on Thursday proposed a dividend of 25%.
The decision has to be ratified by the annual general meeting of the CIAL scheduled for September 3 at the Fine Arts Hall in Ernakulam.
The CIAL, which pioneered the idea of Public Private Partnership (PPP) model in airport infrastructure development, enjoys a base of more than 18,000 investors from 30 countries. The CIAL has been paying dividend from 2003-04 financial year and with the last fiscal the total dividend payout to the investors has touched 203%.
The consolidated turnover achieved by CIAL and its fully owned subsidiaries like CIAL Duty Free and Retail Services Limited (CDRSL) has gone up from ₹592.65 crore in 2016-17 to ₹701.13 crore in 2017-18.
The consolidated profit of CIAL and its subsidiaries for the accounting year is ₹170.03 crore and the CDRSL alone has a turnover of ₹ 237.25 crore.
The airport, which occupies fourth position in the country in terms of of international traffic and seventh in total traffic, handled 10 million passengers in 2017-18 fiscal. To cater to the needs of increasing domestic travellers, CIAL is renovating its old international terminal. The 6-lakh sq.ft. renovated terminal-T1- will be opened for the domestic passengers soon, according to CIAL sources.