Mounesh Vishwakarma
Daijiworld Media Network - Bantwal
Bantwal, Jul 8: The Bantwal Taluk Agricultural Produce Co-operative Marketing Society Ltd recorded a turnover of Rs 371 lac and a net profit of Rs 20.37 lac during the financial year 2024–25, according to its president K Ravindra Kambli.
He was speaking while presiding over the society's annual general meeting held on Tuesday at the Lions Seva Mandir, B C Road. On the occasion, a 12% dividend was announced for members.
The society’s share capital exceeds Rs 11.64 lac, and it holds Rs 2,943 lac in deposits. The working capital stands at Rs 3,157 lac, and the society has no loans from banks. It has invested Rs 2,577 lac as deposits in Dakshina Kannada District Central Co-operative Bank and other co-operative institutions, Kambli informed.
He also said that Rs 536 lac worth of loans have been disbursed. The society has secured an 'A' grade in the current year’s audit. Its central office is located on its own premises in Ponnodi, B Mood village. It has six godowns, one of which is used for ration distribution, while four have been rented out.
The society operates two branches. The Bantwal branch provides sale of agricultural equipment, pesticides, and other materials for the benefit of farmers. It also facilitates banking services and operates a fair price shop for ration distribution.
It owns buildings at B C Road and Thumbay, which have been leased out. The Farangipete branch offers various loan services and e-stamping facilities, along with ration distribution through a fair price shop. All branches are computerized, and the society is progressing successfully with the support of members and staff, he said.
Vice president Shashikala Udupa, directors Venkatraya Prabhu, B T Narayana Bhat, Dnyaneshwar Prabhu, Padmanabha Kidebettu, Rai Sundar Bhandary, Manoraj A, Poovappa, Ram Naik, and Ratna were present on stage.
Jayashankar Basittaya, president of the Panemangalore Co-op Society, lit the lamp and inaugurated the meeting with his best wishes.
Chief executive officer U Dharmapala Bhandary read out the annual report. Director Polali Venkatesh Navada delivered the vote of thanks. Staff members assisted in organizing the event.