CIAL registers all time profit of Rs 144.57 crore

Thursday, Aug 13, 2015,19:57 IST By metrovaartha A A A

Nedumbassery, Kerala | Cochin International Airport Limited (CIAL), the first green airport in the country built with public-private partnership, recorded a record profit of Rs 144.57 crore net profit during the last financial year,  15 per cent more than the previous year, CIAL MD V J Kurian informed.
Addressing media here today, he said this was an all time record in making profit and the company had also decided to provide 21 per cent dividend to its share holders, after the approval of the director board as against 19 per cent dividend issued last year.
The company had also decided to a rights issue in the ratio of 1:4  at premium of Rs 40 to its share holders, he said adding this was the third rights issue after 2000 and 2006. The funds would be used for airport expansion projects.
Claiming the passenger traffic was increasing each year, he said during the last four months alone about 25 per cent increase was registered  in the passenger traffic, both domestic and international, than in the same period last year.
During the last financial year, the airport had handled about 64,11,711 passengers, including 39,43,980 international passengers, he said adding during the past four months about 25,09,780 passengers, including 15,20,688 international passengers chose CIAL.
Claiming an average of 20 per cent increase was noted in terms of international passengers, Mr Kurian expressed the hope that in next two years, it was expecting CIAL would catapult to the second position, wresting it from Chennai.
Regarding cargo handling, the airport had achieved a growth of 17.57 per cent  growth in import  than the previous year.