Kochi: The Cochin International Airport Limited (CIAL), the first international airport in the Private-Public-Participation mode in the country, is set to soar to greater heights. Sources said the airport company had 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
Left Right Left' is not a political flick: director Arunkumar Rs 102 cr. 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.
Due to the cost involved in implementing new projects, the dividend is unlikely to be increased this year. The date and venue of the next annual general body meeting will also be finalized at the meet.
It will also finalise next year’s income and expenditure.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 director board will debate the project in a bid to give it a push. 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 tom-toming 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.
The illegal appointments at CIAL is yet to be dealt with in a comprehensive manner and ahead of the AGM, the director board will have to set the answers from shareholders.