Friday, February 09, 2007

CIAL pays dividend to Kerala state

Thiruvananthapuram: The Cochin International Airport Limited, India’s first corporate airport, yesterday handed over Rs 49.3mn to the Kerala government as dividend for the year 2005-06. The CIAL annual general meeting had recently cleared 10% dividend for the financial year. The CIAL managing director Sreeram Bharath handed over the cheque to Chief Minister V S Achuthanandan, who is also chairman of the company.
According to a CIAL statement, the paid up capital of the company for the year ended March 31, 2006 was 1.4886bn.
The company registered a profit after tax of Rs 31.78 for the year. The company earned a net profit of about 30% as against the industry average of 10%.
The Kerala government and the state-owned companies were holding 36% stake in the company, which was diluted to 26% when the paid up capital was doubled recently.
The international sector registered a growth of 24% and the domestic sector 77%.
The Cochin Duty Free Shop also registered a record growth of 49%. The company is also constructing a new international departure terminal of around 300,000 sq. feet capable of handling peak traffic of about 1,200 incoming passengers and 1,200 outgoing passengers per hour and it is expected to be completed this year.
08/02/07 Ashraf Padanna/Gulf Times, Qatar
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