Tuesday, August 11, 2020

Cochin International Airport reports Rs 72 cr Q1 loss, revenue at Rs 19 cr

Kochi: Hit by travel restrictions due to Covid-19 spread, Cochin International Airport Ltd, the first airport in India to be built in a public private partnership, has incurred a loss of around Rs 72 crore in the first quarter of current financial year, the company said on Tuesday.
The company, however, registered a profit of Rs 204.05 crore for the financial year 2019-20, prompting the director board chaired by Chief Minister Pinarayi Vijayan to propose a dividend of 27 per cent which has to be endorsed by the Annual General Meeting of shareholders slated to be held on September 5, 2020.
The holding company having 100 per cent shares in subsidiaries like Cochin Duty Free and Retail Services Ltd (CDRSL) registered a consolidated turn over of Rs 810.08 crore.
"The company incurred a loss of around Rs 72 crore in the first quarter of FY 2020-21 owing to the travel restrictions imposed globally due to the Covid-19 pandemic," a company statement said.
CIAL alone registered a turn over of Rs 655.05 crore with a profit (after tax) of Rs 204.05 crore during FY 2019-20.
The profit was Rs 166.91 crore in FY 2018-19. The YoY growth of profit is 22.25 per cent.
11/08/20 PTI/Business Standard
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