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.
