Kochi: The Cochin International Airport Limited (CIAL) has posted a net profit of Rs 179.45 crore after tax in the last fiscal, up from Rs 176.02 crore in 2015-16 fiscal. The profit before tax increased from the previous year’s Rs 237.32 crore to Rs 256.32 crore last fiscal. It is learnt that a dividend of 25 percent has been decided for the shareholders by the director board of the company for the fiscal which has to be endorsed by the AGM.
The total revenue earned by CIAL last fiscal was Rs 487.28 crore after detaching the revenue from the duty-free shop, which was formed into a separate company from June 1, 2016. The total revenue of CIAL in 2015-16 fiscal was Rs 530.79 crore which was inclusive of duty-free revenue.
The company has also recorded a sharp decline in the annual expenses. It came down from Rs 293.47 crore in 2015-16 fiscal to Rs 230.96 crore. This could be achieved after implementing certain austerity measures.
The CIAL has recorded quantum jump in duty- free shop revenue also in the last fiscal. It jumped from Rs 212.49 crore in 2015-16 to Rs 246.62 crore last fiscal. The first two months’ revenue of the duty-free shop in the last fiscal of Rs 64.84 crore has only been added to CIAL’s revenue while the rest goes to the separate company CIAL Dutyfree and Retail Services Limited (CDRSL). The revenue of this company in the last fiscal is Rs 181.78 crore which takes the total revenue of CIAL to Rs 669.06 crore.
The annual general meeting of the company will be held at the Fine Arts Hall in Kochi at 11 a.m. on September 18 presided over by company chairman and Chief Minister Pinarayi Vijayan.
