KSIDC’s profit growth surged by 62% amid Covid pandemic – KERALA – GENERAL

THIRUVANANTHAPURAM: Despite the Covid crisis, the State Industrial Development Corporation (KSIDC) made a profit of Rs 35.61 crore after excluding taxes for the first nine months of the current financial year, Chief Executive MG Rajamanikyam says during a press conference.

Last year’s profit during this period was 21.91 crores. A 62% increase was achieved this year. Loans, collections and operating profit increased over the previous year. 154.57 crore was the loan in the first nine months of 2020-2021 and this year it is 213.10 crore. Debt collection rose to Rs 94.39 crore from Rs 54.89 crore and operating profit rose to Rs 43.01 crore from Rs 27.31 crore. 159.67 crores was disbursed in nine months. Investment mobilization of 559 crores was won and 1,547 jobs were created.

The January 22 board meeting approved five projects with an investment of Rs 185.5 crore and sanctioned loans of Rs 99.25 crore. 791 people will obtain direct employment. 250 crores will be distributed to 500 entrepreneurs. 3,000 jobs will be created. Term loan assistance of Rs 25 lakh to Rs 2 crore will be provided to MSMEs and startups. The interest rate will be 7%.

No processing/advance fee will be charged for loans up to Rs 1 crore. People between the ages of 18 and 50 are eligible for the loan. Five-year exemption on the age limit for women, SC, ST and NRK applicants. The repayment term is five years. One year moratorium.