Financial Daily from THE HINDU group of publications
Sunday, Nov 23, 2003
Financial Daily from THE HINDU group of publications Sunday, Nov 23, 2003 |
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Corporate
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Outlook Logistics - Airlines Cochin airport targets Rs 25-cr profit G.K. Nair
Kochi , Nov. 22 THE Cochin International Airport Ltd (CIAL), the first private sector airport in the country at nearby Nedumbassery in Kerala, has come out of the red and made a net profit of Rs 12 crore during the first half of the current fiscal and targets a profit of Rs 25 crore by March-end. The one-time settlement completed with Hudco, the major financier of the airport project, which had resulted in a substantial saving towards interest, has steered the company to make profits, Mr V.J. Kurien, Managing Director, CIAL, told Business Line. Under the settlement, the company has to repay Rs 172 crore, of which, Rs 120 crore has already been repaid and the balance has been kept for converting into Hudco's equity in the airport company.
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