AAI annual profit flies 23% to `3,115 crore
National airports operator AAI saw its net profit jump 23 per cent to a "record" Rs 3,115 crore in the last fiscal, primarily driven by higher traffic numbers and increase in non-aeronautical revenues.
State-owned Airports Authority of India (AAI) had a profit after tax of Rs Rs 2,537 crore in 2015-16.
In a release on Wednesday, AAI said it recorded an "all time high total income of Rs 12,542 crore... and operational income of Rs 8,024 crore" in 2016-17. Total income stood at Rs 10,824 crore in the year-ago period.
"AAI achieved a record of Rs 4,557 crore of profit before tax... and profit after tax of Rs 3,115 crore in FY 2017," the release said.
A senior AAI official said there was higher traffic growth and increased revenues from non-aeronautical sources.
In 2016-17, there was around Rs 100 crore rise in revenues from non-aeronautical sources and about Rs 60 crore increase in income from cargo segment, the official said.
In the last two years, India has seen high double-digit growth in domestic passenger traffic. The national airports operator has declared a dividend of Rs 934 crore for the last financial year. The amount would be paid to the Civil Aviation Ministry.
An interim dividend of Rs 560 crore was paid in February this year.
Last fiscal, the entity's net worth rose to Rs 15,029 crore.
The annual financial statement was approved by the AAI board during its meeting held on June 6.
AAI manages 125 airports, including 11 international aerdromes and 25 civil enclaves. It also provides air traffic management service over the entire Indian air space and adjoining oceanic areas.