KSIDC registers profit of Rs 49.87 crore

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KSIDC registers profit of Rs 49.87 crore

Thiruvananthapuram, Apr 29 (PTI) Kerala State Industrial Development Corporation (KSIDC)has registered a profit to a tune of Rs 49.87 crore for the financial year 2015-16.

The state run public sector had made a profit of Rs 33.66 crore during 2014-15, an official release said here.

The Organisation, one of the top ranking PSUs making profits consistently for the past 23 years, gave a dividend of Rs 1.75 crore to the state government as its profit share for the financial year 2015-16.

KSIDC sanctioned projects involving a capital investment of Rs 92.88 crore as direct term loan assistance during the period.

The income for the year stood at Rs 63.55 crores, it was stated.

The projects sanctioned are expected to generate direct and indirect employment to an extend of nearly 5000 persons.

The corporation besides being the single point contact for all investments into the State, has a range of diverse activities including project appraisals, innovative funding,Start-up development, special financial assistance to women entrepreneurs and enabling speedy clearances.

Corporation Managing Director M Beena has handed over the dividend cheque of Rs 1.75 crore to Minister for Industries A C Moideen, the release added.

This is published unedited from the PTI feed.