CIAL ‘s profit rises 16.25 % to 144.58 cr; Offers dividend at 21 %
Cochin International Airport Limited (CIAL), the company that built and operates the country’s first PPP airport reported a record profit (after tax) of 144.58 cr. during the 2014-15 fiscal, which is up by 16.25 % that of last FY. The CIAL board meeting, chaired by Hon.Chief Minister Mr.OOmmen Chandy has declared that the company’s profit before tax stood at Rs. 179.30 cr. It was Rs. 157.46 cr. in the last year.
Driven by the constant efforts of business diversification across both aviation and non aviation verticals, the company shows a robust growth over the years as the total revenue for the 2014-15 FY increased by 14.55 % to Rs 413.96 cr against Rs. 361.39 cr that of last FY. The board of directors recommended a dividend of 21 %. 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 % in the last FY. The company 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 board meeting also decided to convene this year’s annual general body meeting on 18th August at Fine arts hall, Ernakulam.
CIAL is the only airport company that handled more than 5 million passengers a year, in the state. In 2014-15 it registered a passenger growth of 21 % from 5.3 million, in the previous FY to 6.4 million . CIAL CARGO also showed an emphatic growth in the 2014-15 FY, with the handling of 64935 ton which is up by 19.28%. In order 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 Rs. 1050 cr, 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.
Mr.K.M.Many, Mr.K.Babu, Mr.P.K.Kunhali kutty, Hon. Ministers and CIAL directors, Mr.Jiji Thomson, Chief secretary, Mr.V.J.Kurian, Addl. Chief Secretary and MD, CIAL, Mr.M.A.Yusaffali, Mr. C.V.Jacob, Mr. N.V.George, Mr. E.M.Babu , Mr. K.Roy Paul, Ms. Ramani Damodaran, directors, Mr. A.M.Shabeer, Mr. Saji K.George, Mr. Sunil Chacko, Mr.Lenny Sebastian CIAL officials, were also present in the meeting of the board of directors.
CIAL/PR & CC