The Airports Authority of India (AAI) posted an increase of 36% in its net profit to Rs 1,959 crore for FY15, reports Sunny Sen in New Delhi.
The Airports Authority of India (AAI) posted an increase of 36% in its net profit to Rs 1,959 crore for FY15, reports Sunny Sen in New Delhi. Revenue jumped 14% to Rs 9,285 crore. The AAI, which has consistently been a profit-making organisation since its inception, also declared a dividend of Rs 391.85 crore for FY15, a statement from the organisation said. It paid an interim dividend of Rs 294 crore to the civil aviation ministry.
The AAI has spent Rs 4,358 crore in the last three years (2012-13 to 2014-15) on the modernisation of airport terminals, passenger facilities and air traffic and navigational aids at its airports, and has planned to spend Rs 1,973 crore this year.
A monthly report of the ministry has mentioned a list of investments that AAI has undertaken to improve the aviation infrastructure of the country — resurfacing of the runway at the Chennai airport for Rs 40.99 crore, construction of a perimeter road in Surat for Rs 6.64 crore, development of the Ajmer airport for Rs 6.32 crore, and re-carpeting and widening of the runway at the Shimla airport for Rs 6.59 crore.
The report also mentioned that the Hyderabad airport would get connectivity of flights from West Asia and Europe. All these efforts, put together, is expected to further increase AAI’s revenue and profits in the current fiscal.