-
CIAL reports 21% growth in FY16 net
Cochin International Airport Ltd has registered 21 per cent growth in its net profit at ?175.22 crore in FY16. The company’s turnover also posted a 27 per cent growth at ?524.53 crore.
The director board, which met here on Tuesday, also ratified a proposal to release 25 per cent dividend to the 18,000 investors, resulting in the total dividend pay out of nearly ?110 crore, an increase of 178 per cent since 2003-04. In the last fiscal, the airport handled 7.77 million passengers.
Addressing the 22nd AGM, Kerala Chief Minister Pinarayi Vijayan who is also the chairman of CIAL said that the new international terminal will be operational within two months and the company devised a master plan for land utilisation with the help of Ernst & Young. The construction of the 1931-metre four-lane road including two flyovers will be completed by next month.
The installation capacity of the solar power plant will be doubled by February 2017. With the commissioning of the 12 MW solar power plant, CIAL became the first airport in the world fully powered by solar energy. It increased the power generation to 15.4 MW by the installation of more photovoltaic panels. The total installations so far produced 23.5 million units of power, he said. Nick Ritchie Jersey
Share This
