Cochin Airport registers 16% growth in net profit at ₹144.58 cr

Our Bureau June | Updated on January 24, 2018 Published on June 12, 2015

Cochin International Airport Ltd has registered a 16 per cent growth in its net profit at ₹144.58 crore in FY-15.

The total revenue showed a 14.55 per cent increase at ₹413.96 crore compared to ₹361.39 crore, given by the constant efforts of business diversification across both aviation and non aviation verticals.

The board also recommended a dividend of 21 per cent. The company has been showing consistent growth since its inception and paying dividend unfailingly since 2003-04 and the total pay-out dividend has reached 132 per cent in the last fiscal.

CIAL has made two right issues at par, in 2000 and 2006 offering one share for every share held by the shareholder. In the last fiscal, it also announced the distribution of right issue at the rate of 4:1

The first PPP airport in the country, CIAL also registered a passenger growth of 21 per cent from 5.3 million in 2014-15. The cargo figures also showed an emphatic growth with the handling of 64,935 tonnes, which is up by 19.28 per cent.

To address the future challenges in Indian aviation, the company is spearheading many projects including the construction of a new international terminal at a cost of ₹1,050 crore, which is expected to be completed by May 2016.

It is all set to be acclaimed as the country’s first power neutral airport by tapping the non-conventional energy sources and building small hydro electric energy plants.

Published on June 12, 2015
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