South Canara Agriculture Development Cooperative Society (SCADS) president Ravindra Kambali told the AGM in Mangaluru that the cooperative had earned a net profit of Rs 8.86 lakh in the 2019-20 fiscal and would pay 5% dividend to its members, reports Hindu.
Despite reduced demand from power tillers and tough competition from private players, the society carried out business worth Rs 6.6 crore, besides Rs 10.97 crore turnover in the banking section, said a press release issued by the society.
According to Kambali, the society won the ‘Best Cooperative’ Award” in the recently concluded Cooperative Week celebrations, the society will soon start banking services at Kadaba, Kundapur, and B.C. Road.
