Kochi: Cochin International Airport (CIAL), the company that operates the country's first PPP airport, reported a profit after tax of 144.58 crore in 2014-15, registering a growth of 16.25 percent over previous fiscal.
"The CIAL board meeting, chaired by Kerala Chief Minister Oommen Chandy has declared that the company's profit before tax stood at Rs 179.30 crore (in FY 2014-15). It was Rs 157.46 crore in the last year (fiscal)," a CIAL statement said here.
Driven by constant efforts of business diversification across both aviation and non-aviation verticals, the company showed a robust growth over the years as the total revenue for 2014-15 increased by 14.55 percent to Rs 413.96 crore against Rs 361.39 crore in 2013-14, the statement said.
The board of directors recommended a dividend of 21 percent. It also decided to convene this year's annual general body meeting on August 18.
CIAL is the only airport company that handled more than five million passengers a year in the state.
In 2014-15 it registered a passenger growth of 21 percent.
CIAL CARGO also showed an emphatic growth in 2014-15, with the handling of 64,935 tonne which is up by 19.28 percent.
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 1,050 crore, which is expected to be completed by May 2016, the statement said.
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.
