: VPK Urban posts net profit of Rs 5.39 crore #FinanceIndia #StockMarketNEWS #Business Staff Reporter Ponda After suffering losses for three consecutive years, the VPK Urban Co-operative Credit

@StockMarketNEWS Wed 20 Apr, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

VPK Urban posts net profit of Rs 5.39 crore #FinanceIndia #StockMarketNEWS #Business
Staff Reporter

Ponda

After suffering losses for three consecutive years, the VPK Urban Co-operative Credit Society Ltd has earn a net profit of Rs.5.39 crore during the financial year 2021 -22, informed chairman Durgadas Gaude.

“The VPK Urban Co-operative Credit Society having its head office at Mardol and 37 branches all over Goa earned a net profit of Rs.5.39 crores during the financial year 2021-2022, after suffering losses continuously for last three years,??? said Gaude during a press briefing held at Mardol.

As on March 31, 2022, the financial position of the society stand as follows: paidup share capital Rs. 33.08 crores; reserve fund Rs. 28.65 crore; total deposit Rs. 528.75 crore; loans and advances Rs. 403.06 crores and investment and deposit Rs. 235.90 crore.

The society had floated OTS Scheme as per the guidelines of Registrar of Co-operative Societies, and 1048 loanee members took the benefit of the scheme; society waived interest amounting to Rs. 12,49 crore.

During the year, the society managed to reduce its gross NPA amount by Rs. 22.92 crore.