Cial records highest ever profit of ₹267.17 crore
Cochin International Airport Ltd (CIAL) posted a net profit of Rs 267.17 crore for the financial year 2022-23, which is the highest ever profit recorded by the company in its 25 years of operational history. The director board meeting chaired by chief minister Pinarayi Vijayan finalized the balance sheet and proposed a dividend of 35% to the investors, subject to the endorsement of the annual general body meeting dated to be held on September 28, 2023. The dividend of 35% is the highest ever offered by CIAL.
The board also decided to implement a development strategy accentuating its effort to increase the group turnover to Rs 1,000 crore during the ongoing silver jubilee year. CIAL had registered a loss of Rs 85.10 crore for fiscal year 2020-21 but made a strong comeback in 2021-22 by registering a profit of Rs 22.45 crore.
