The Cochin International Airport Limited (CIAL) has registered a 25 per cent growth in its total income during the financial year ended on March 31, 2009 with the total turnover reaching Rs.173.060 crores as against Rs. 138.206 crores in the previous fiscal.
According to the 15th annual report of the airport company, CIAL’s net profit grew by around 26 per cent to Rs.59.34 crores against the 46.81 crores in the corresponding period, leaving a balance of 24.705 crores to the company’s general reserves even after appropriating a 10% dividend on the paid up value of equity shares plus a tax on dividend. The gross profit also increased to 68.93 crores from Rs.51.23 crores last term.
The report said the impressive growth rate in revenue which had come during a period of turbulence for the global airport and aviation industry, relied heavily on a series of efficiency improvement drives undertaken by the company management. It was during this period, a resurfacing of the runway was carried out without incurring any consequential loss of revenue by effective work planning and re-scheduling of airlines, it added.
While the aircraft movement in the international sector increased by a robust 17 per cent to 1904 movements during the period under review, the domestic traffic witnessed a slight decline of 3 per cent owing to the route rationalization measures adopted by many of the domestic carriers. Though there was a13.7 per cent dip in the domestic passengers, this was negated by a 13.5 per cent growth experienced in the international sector, keeping the total passenger movement more or less flat at the last year’s figure of 3.36 million.
The cargo traffic has also shown a significant improvement with the total exports improving from 15024 tonnes to 18334 tonnes this year and imports to6055 from 5828 tonnes. In the domestic segment, the total volume of inbound movement stood at 4067 tonnes against 2452 tonnes of goods dispatched.
The total foreign exchange receipts of the company in the form of airport charges from the foreign airliners, ground handling royalties and from the duty free sales rose to USD 68.59 crores when compared to the last year’s figure of USD 40.8 crores.
The report also announced that the 15th Annual General Meeting (AGM) of the company would be held at the Ernakulam Fine Arts Hall on September 25th and the agenda include the re-appointing of ministers K.P Rajendran and T.M Thomas Isaac as the company directors and adopting the balance sheets and accounts for the year 08-09.