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Last Updated Friday April 20 2018 04:07 PM IST

CIAL makes Rs 179.45cr profit for fiscal 2016-17

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CIAL makes Rs 179.45cr profit for fiscal 2016-17 CIAL, the first PPP (Public Private Partnership) model to run an airport, has registered total revenue of Rs 669.09 crore for the financial year 2016-17.

Thiruvananthapuram: Cochin International Airport Ltd (CIAL) along with its subsidiary Cochin Duty Free and Retail Services Ltd has made a profit of Rs 179.45 crore after interest for the financial year 2016-17.

CIAL, the first PPP (Public Private Partnership) model to run an airport, had registered total revenue of Rs 669.09 crore for the financial year 2016-17, chief minister Pinarayi Vijayan, also the company chairman, said in a Facebook post.

The company handed over a Demand Draft of Rs 31 crore to the government as its profit share at a function here on Tuesday, he said.

The company has been giving the profit share to the government, which has 32.42 percent equity share in it, since 2003-04.

Pinarayi said that the company has declared a dividend of 25 percent to its 18,300 shareholders.

A total of 89.4 lakh passengers used Kochi International airport during the period, an increase of 15.06 percent over the previous year.

State minister Mathew T. Thomas, who is also the director of the company, handed over the Demand Draft to the chief minister.

Read: Latest Business news | Govt unveils Rs 2.11 lakh crore plan to strengthen PSU banks

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