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The Hindu
The Hindu
National
Special Correspondent

Kerala Financial Corporation doubles net profit

The Kerala Financial Corporation (KFC) has doubled its net profit for the year ended March 31, 2022. As per audited financials, KFC posted a net profit of ₹13.09 crore in 2021-22 compared to ₹6.56 crore the previous fiscal. The operating profit has increased to ₹92 crore from ₹29 crore.

KFC was also able to control non-performing assets (NPA), said KFC Chairman and Managing Director Sanjay Kaul. Gross NPA has been brought down to 3.27% from 3.58% last year. Net NPA is 1.28% against last year’s figure of 1.48%.

With a loan portfolio of ₹4,750 crore, the net worth has increased by 2.46% to ₹695 crore and the Capital to Risk-Weighted Assets Ratio (CRAR) stands at 22.41%.

KFC had concentrated its lending to the core MSME (micro, small and medium enterprises) sector and start-ups, lending ₹1,877 crore to those sectors in the last fiscal, the highest in KFC’s history, said Mr. Kaul.

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