 India's
first privately funded Airport - Cochin International Airport
Ltd (CIAL) posted a turnover of Rs 55 crore for the last financial
year posting a net profit of Rs. 12.25 crore. CIAL which commenced
its operations in 1999 was under losses for the first two years
of its operations.
2003 proved to be the year to turn around things. Company
officials stated that the loan swapping undertaken during
the last 18 months had enabled CIAL to come out of with a
successful performance in 2002-03. Currently the total loan
outstanding is Rs. 52 crore towards HUDCO and Rs 70 crore
towards other financial institutions.
Source: Business-Standard
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