Matsyafed earns Rs 15.46 cr net
The Kerala State Co-operative Federation for Fisheries Development (Matsyafed) has clocked a net profit of Rs 15.46 crore for 2009-10, its highest ever. The turnover for the year was Rs 314.21 crore.
By ET Bureau |
THIRUVANANTHAPURAM: The Kerala State Co-operative Federation for Fisheries Development ( Matsyafed) has clocked a net profit of Rs 15.46 crore for 2009-10, its highest ever. The turnover for the year was Rs 314.21 crore.
Matsyafed chairman VV Saseendran said the federation had so far spent Rs 360 crore through its 666 primary co-operative societies across the state. The funds were mobilized from various national financial institutions and through implementation of different central and state government schemes.
Matsyafed distributed Rs 23.60 crore during the year under the Integrated Fisheries Development Project (IFDP), and its microfinance scheme has 13,006 self help groups registered with it. The federation has been able to distribute Rs 54.66 crore in 2009-10 under the microfinance scheme.
Saseendran said a net factory with an annual capacity of 200 tonnes would be established at Azhikkal in Kannur, and a community peeling centre would be established at Sakthikulangara in south Kerala. The federation has plans to start retail marts for sale of fish, and has earmarked Rs 50 crore for microfinance activities that will benefit women.
Matsyafed will also set up 25 more Neethi stores in association with Consumerfed, expanding the network of 35 stores that it currently operates in the state.
Matsyafed chairman VV Saseendran said the federation had so far spent Rs 360 crore through its 666 primary co-operative societies across the state. The funds were mobilized from various national financial institutions and through implementation of different central and state government schemes.
Matsyafed distributed Rs 23.60 crore during the year under the Integrated Fisheries Development Project (IFDP), and its microfinance scheme has 13,006 self help groups registered with it. The federation has been able to distribute Rs 54.66 crore in 2009-10 under the microfinance scheme.
Saseendran said a net factory with an annual capacity of 200 tonnes would be established at Azhikkal in Kannur, and a community peeling centre would be established at Sakthikulangara in south Kerala. The federation has plans to start retail marts for sale of fish, and has earmarked Rs 50 crore for microfinance activities that will benefit women.
Matsyafed will also set up 25 more Neethi stores in association with Consumerfed, expanding the network of 35 stores that it currently operates in the state.
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