CIAL posts record profit of Rs 267 cr, declares highest dividend of 35%

The Cochin International Airport Ltd, the first Greenfield airport setup in Public Private Partnership (PPP) model in the civil aviation infrastructure sector in the country, on Monday declared a record net profit of Rs 267.17 crore for the year 2022-23.

In a statement here, the company also announced the highest dividend of 35 per cent for the last fiscal year.

The Director Board meeting, chaired by Chief Minister Pinarayi Vijayan, which was held today, finalised the balance sheet and proposed a dividend of 35 per cent to the investors, subject to the endorsement of the Annual General Meeting slated to be held on September, 28, CIAL said.

The company said this was the highest dividend ever offered by it in its 25-year operational history.

"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," the release said.

Chief Minister Pinarayi Vijayan, the chairman of the