INSUBCONTINENT EXCLUSIVE:
Kochi: The Cochin International Airport Limited (CIAL) on Saturday endorsed the proposal of its board of directors to give out a dividend of
27 per cent to shareholders of the company
A decision to this effect was taken at the 25th annual general meeting (AGM) held here
Addressing the shareholders as the chairman of the company, Chief Minister Pinarayi Vijayan, said CIAL is one of the best institutions in
the state and though there was a lot to mention about its achievements during the previous fiscal, the observance of model code of conduct
prompted him to refrain from it
CIAL has registered a net profit of Rs 166.92 crores out of a turnover of Rs 650.34 crore during the financial year 2018-19
The board of Directors had in June proposed a dividend of 27 per cent to the investors
Despite the closure of the airport for 15 days due to the August flood, the company registered an increase of turnover of 17.52 per cent, a
The turnover during 2017-18 was Rs 553.41 crore
The profit (after tax) was increased by seven per cent ie, Rs 155.99 crore in 2017-18 to Rs 166.92 crore in 2018-19, it said
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 Cr for the accounting FY
It was Rs 701.13 crore in 2017-18
The consolidated profit is increased from 169.92 crore in 2017-18 to 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 was incorporated in 1994 and the airport was inaugurated 20 years back, in 1999
The company has been paying dividend consistently since 2003-04 and with the endorsement at the 25th AGM held on Saturday, the total
dividend pay-out touched 255 per cent
The Kerala government which has a share of 32.41 per cent in the company would be given Rs 33.44 crore as dividend from CIAL
CIAL directors K Roy Paul, A K Ramani, M A Yusuffali, C V Jacob, E M Babu, Managing Director V JKurian, Company Secretary Saji K George
were present at the meeting
Cochin International Airport today stands at fourth in the country in terms of international traffic and seventh in total traffic has been
handling more than 10 million passengers a year since 2017-18
CIAL became the worlds first airport fully powered by solar energy in 2015.