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CIAL posts impressive growth

Staff Reporter

KOCHI: Cochin International Airport Limited (CIAL) at Nedumbassery has registered an impressive growth during the 2006-07 financial year.

The airport company registered a net profit of Rs.37.50 crore as against the Rs.31.60-crore during the previous fiscal, a growth rate of almost 20 per cent. The total turnover for 2006-07 stood at Rs.112 crore.

The gross profit for the same period was Rs.44.40 crore compared to Rs.38.50 crore in the previous fiscal, a growth rate of 15 per cent.

The 68th director board meeting of CIAL held in Thiruvananthapuram on Thursday reviewed the performance and approved the balance sheet and accounts for the year ended March 31, 2007.

Considering the financial status of the company, the director board decided to recommend a dividend of eight per cent to the shareholders for the 2006-07 period. This is a scale down from the previous fiscal when the rate was fixed at 10 per cent.

The reduction was on account of the rights issue to shareholders in the ratio of 1:1 in August 2006, the director board said.

The meeting also decided to convene the 13th Annual General Meeting of the company in Ernakulam on September 10.

The board considered the reintroduction of users’ fee, but deferred a decision on the issue of a subsequent meeting.

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