Cochin International Airport Limited (CIAL) has registered an impressive growth rate of 11.68 per cent in its profits rates to post a record profit of Rs. 124.42 crore during the fiscal 2013-14.
According to official estimates, the company’s gross profit stood at Rs. 157.46 crore while the total turnover was at Rs. 361.39 crore. Of this, 44.8 per cent of income (Rs. 161.99 crore) comes from non traffic sector.
The total revenue of the company during last financial year was at Rs. 306.5 crore with a profit after tax of Rs.111.41 crore.
During the period, the number of passengers increased by 9.93 per cent with the total number of passengers handled standing at 5.3 million during the period.
Meanwhile, aircraft movement grew by 13.67 per cent and cargo traffic has also shown a significant improvement with the figures standing at 18.62 per cent and 8.39 per cent in the international and domestic sectors respectively.
The figures will be declared at the Annual General Meeting (AGM) of the airport company, to be held on August 29 at the Fine Arts hall in Kochi. A meeting of its board of directors earlier this month fixed a dividend of 18 per cent to the share holders, which will be presented for an approval of the AGM.
The airport company has been paying dividend since 2003-04 and the total pay-out as dividend has reached 114 per cent of its total turnover as on 2012-13. The company made two rights issues at par, in 2000 and 2006 offering one share for every share held by the shareholder.
