Cochin International Airport earns Rs 110 cr net profit

In Kerala, the Cochin International Airport (CIAL), the first international airport in the Private-Public-Participation mode in the country, is said to have clocked a net profit of Rs 110 cr after tax in the 2012-13 financial year, up Rs 8 cr from the previous year’s. The CIAL’s turnover crossed Rs 300 cr last fiscal. Last year, CIAL declared a dividend of 16 per cent for shareholders.

The director board meeting is scheduled to be held on June 29 which will be attended by Chief Minister Oommen Chandy who will declare the operating profit and dividend. One of the major projects to be implemented at CIAL is the Rs 400 cr new international terminal which is awaiting nod from the Airport Economic Regulatory Authority.

The consultancy firm Ernst and Young is conducting a study on the functioning of CIAL which will also come up for discussion. The Air Kerala project, which Kerala has been boasting about is already on the backburner due to the obstacles in its way in the form of Central rules. So the project is unlikely to get a push at the meet on June 29.