Friday, June 12, 2009

NEDFi registers 31 Cr profit

Northeast Development Finance (NEDFi) has notched up Rs 31 crore net profit during the past fiscal against a cumulative sanction of Rs 1,294 Crore.

NEDFi officials here today said that the bottomline had been growing at more than 20 per cent in last few years and it was paying dividend from the last financial year and in 2009-10 NEDFi was expected to contribute more than 20 crore in taxes and dividend to the public exchequer.

NEDFi’s credit disbursement in the region has covered a wide spectrum of sectors like power, steel, cement, hospitality, tourism, nursing homes and milk processing, the officials pointed out, adding that it made business plan for the next five years for promoting investment and industrialisation.

The officials highlighted that NEDFi had broadened its activities from term-lending to micro-finance and commercialisation of medicinal and aromatic plants, skills development and market linkages for the first generation entrepreneurs and consultancy and advisory services besides, capacity building

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