Crew change, rate revision proper up Cochin Port Trust reven

Crew change, rate revision proper up Cochin Port Trust revenues in FY21


Crew change, rate revision proper up Cochin Port Trust revenues in FY21
May 25, 2021
Increasing demand for oil has also helped gain more revenue
Cochin Port Trust posted a 5.28 per cent increase in operating income at ₹683 crore for FY21 from ₹649 crore the previous year on the back of revenue from brisk crew change operations and rate revisions.
However, the Centre-run port’s net profit declined 66 per cent to ₹7.20 crore from ₹21.30 crore in FY20, according to the annual accounts prepared by Cochin Port Trust.
The decline in net profit was due to increased pay out of various pension fund liabilities of workers and payment of wage arrears.

Related Keywords

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