Karnataka - Mangalore   

Cooperative society posts record profit

Staff Correspondent

MANGALORE: The S.K. Goldsmith's Industrial Cooperative Society, here, has posted a record profit of Rs. 62.69 lakh during the last financial year. General manager K. Umesh Acharya told presspersons here that the society had been posting profit for past 26 years. The society had increased its share capital by Rs. 10.74 lakh to Rs. 97.22 lakh as on March 31, 2007.

It had set aside Rs. 30 lakh for the construction of a building for its head office at Kottara Chowki (Bangra Kuloor) near here and work was under progress. He said the management had decided to declare a dividend of 20 per cent for its members.

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