The company registered a loss of around ₹72 crore in the first quarter of 2020-21

Passenger aircrats park at the terminal of Cochin International Airport (CIAL) during the lockdown. File

Passenger aircrats park on the terminal of Cochin World Airport (CIAL) all around the lockdown. File
  | Photo Credit ranking: Thulasi Kakkat

The company registered a loss of around ₹72 crore in the first quarter of 2020-21

Cochin World Airport Ltd (CIAL) registered a profit of ₹204.05 crore all over 2019-20. The maintaining company, having 100 per cent shares in subsidiaries handle Cochin Accountability Free and Retail Products and services Ltd (CDRSL) registered a consolidated turnover of ₹810.08 crore.

Nonetheless, the corporate registered a loss of around ₹72 crore in the first quarter of 2020-21 “owing to the hotfoot restrictions imposed globally as a result of the COVID-19 pandemic”.

CIAL dealt with around 240 plane actions and 30,000 passengers day-to-day all around the pre-pandemic length which came down to 36 products and services and 2,300 passengers now, triggering a substantial tumble in revenue and profit, the verbal replace added. The first quarter of 2020-21 saw a loss of ₹72 crore against a revenue of ₹19 crore.

An announcement issued by CIAL in Kochi on Tuesday said that CIAL alone registered a turnover of ₹655.05 crore with a profit after tax of ₹204.05 crore all over 2019-20. The PBT all around the final financial twelve months used to be ₹166.91 crore, the YoY increase of profit being 22.25%.

The consolidated profit (collectively with that of subsidiaries) for the twelve months 2019-20 is ₹226.23 crore, said the verbal replace after the director board chaired by Chief Minister Pinarayi Vijayan proposed a dividend of 27 per cent which must be endorsed by the annual normal assembly of shareholders slated to be held on September 5.

CIAL has been giving dividend since 2003-04 and total dividend pay-out will contact 282 per cent this financial twelve months, area to the endorsement of AGM. CIAL has around 19,500 shareholders from 30 countries.

CIAL has invested closely in placing in security tools and health surveillance methods to make sure protected hotfoot both to passengers and crew all around the length of the pandemic. It also spends around ₹129 crore on flood mitigation projects.