KFC’s profit quadruples

Thiruvananthapuram: Leading state owned financial institution, Kerala Financial Corporation (KFC), has quadrupled its net profit for the financial year that ended on March 31. As per the audited financials, KFC posted a net profit after tax of Rs 50.19 crore as against Rs 13.20 crore in the year ended 2022. The loan portfolio stands at Rs 6,529.40 crore against last year's figure of Rs 4,750.71 crore, recording a growth of 37.44 per cent. Incidentally this is the first time that the KFC crossed Rs 5,000 crore loan portfolio in a financial year. "This can be seen as a sign that the state's economy is making a strong comeback post-Covid. Most of the sectors, including the tourism sector have performed well. KFC has recorded its best-ever performance in its 70 years of history," said State Finance