KOCHI: The Cochin International Airport Ltd (CIAL) has registered a net profit of Rs 166.92 crore out of a turnover of Rs 650.34 cr during the financial year 2018-19. The board of directors which met at Kochi on Saturday with the Chief Minister Pinarayi Vijayan in the chair, proposed a dividend of 27% to the investors.
Despite the closure of the airport for 15 days due to the August floods, the company registered an increased turnover of 17.52 %. The turnover during 2017-18 was Rs 553.41 crore. The profit (after tax) increased by 7%; ie, Rs 155.99 crore in 2017-18 to Rs 166.92 crore 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 Rs 807.36 crore for the accounting financial year. It was Rs 701.13 crore in 2017-18. The consolidated profit increased from Rs 169.92 crore in 2017-18 to Rs 184.77 crore in the accounting year. CDRSL alone has logged a turnover of Rs 240.33 crore.
CIAL, which pioneered the idea of PPP model in airport infrastructure development, enjoys a base of more than 18,000 investors from 30 countries. The company has been paying dividend from 2003-04 and with the last fiscal, the total dividend pay-out touched 228 %. The Government of Kerala which has a share of 32.41 % in the company has been given Rs 31 cr. as dividend during the last fiscal.
The dividend of 27% now proposed has to be ratified by the annual general meeting slated at Fine Arts Hall, Ernakulam on September 28.
V.S.Sunil Kumar, minister and director of CIAL, CIAL directors K.Roy Paul, A.K.Ramani, M.A. Yusuf-fali, E.M.Babu, managing director V.J.Kurian, company secretary Saji K. George were present at the meeting.
