Cochin International Airport post 7% increase in net profit

Cochin International Airport Ltd (CIAL) has registered 7 per cent increase in net profit at ₹166.92 crore on a turnover of ₹650.34 crore in the financial year 2018-19. The net profit in 2017-18 was ₹155.99 crore.

The board has proposed a dividend of 27 per cent.

Despite the closure of the airport for 15 days due to floods in August, the company has registered a 17.52 per cent increase in its turnover compared to ₹553.41 crore in the previous year.

The consolidated turnover including subsidiaries such as CIAL Duty Free and Retails Services stands at ₹807.36 crore (₹701.13 crore). The consolidated profit was ₹184.77 crore (₹69.92 crore). CDRSL alone logged a turnover of ₹240.33crore.

CIAL boasts a base of more than 18,000 investors from 30 countries. The company has been paying dividend consistently from 2003-04 and with the last fiscal, the total dividend pay-out touched 228 per cent. The Kerala Government which has a share of 32.41 per cent in CIAL has been given ₹31 crore as dividend during the last fiscal.

CIAL stands fourth in the country in terms of international traffic and seventh in total traffic. It has been handling more than 10 million passengers a year since 2017-18. It became the world’s first airport fully powered by solar energy in 2015.