Rajasthan Corp Profit Soars To ₹18.82 Crore

• RFC's FY24-25 net profit jumps eighteen-fold to Rs 18.82 cr, exceeding targets.
• NPA portfolio reduced by 20% to Rs 192.39 cr, with Rs 41.61 cr recovered.
• Yuva Udyamita Protsahan Yojana sanctions doubled to Rs 95.52 cr for 65 units.

Jaipur: Rajasthan Financial Corporation (RFC) on Friday reported a nearly eighteen-fold jump in net profit to Rs 18.82 crore for FY2024-25.In its 70th Annual General Meeting (AGM) here, RFC Chairman and

Managing Director Subodh Agarwal presented the annual performance, stating that the corporation achieved "strong business growth despite manpower and resource constraints", with sanctions, disbursements and recoveries exceeding targets.

According to the corporation, its net profit rose to Rs 18.82 crore from Rs 1.08 crore last year, driven by improved financial management and tighter recovery mechanisms.Loan sanctions stood at Rs 212.07 crore (against the target of Rs 200 crore), disbursements at Rs 142.32 crore (target Rs 140 crore), and recoveries at Rs 201.49 crore, marginally above the annual goal.

Rajasthan Government Will Host Startup Conclave, Marking Completion Of The Bhajanlal Sharma Administration

According to an official statement, the corporation reported substantial progress in strengthening asset quality, with the NPA portfolio reduced by 20 per cent to Rs 192.39 crore from Rs 230.57 crore.Total NPA recoveries touched Rs 41.61 crore, including Rs 20.06 crore collected through a one-time settlement (OTS) drive that closed 41 long-pending cases. Net NPA reduced sharply from 14.04 per cent to 8.01 per cent.

Support for youth entrepreneurs also increased under the Yuva Udyamita Protsahan Yojana (YUPY), with sanctions of Rs 95.52 crore for 65 units, more than double the previous year. The target for FY 2025-26 has been set at Rs 150 crore under the scheme.The management expressed its gratitude to the Rajasthan government and RIICO for the proposed Rs 100 crore capital infusion announced in the state budget, saying it would help expand MSME lending, improve scheme competitiveness and diversify funding sources.

Experts said that if RFC's loan sanctioning is merged with the RIICO and the existing staff is utilised in a better way, then its profit can grow exponentially.The AGM was attended by senior board members, including Shikhar Agarwal (ACS Industries), Director Rajesh Kala, Executive Director Har Sahay Meena, Executive Director (Finance) Komal Agri, shareholders, and senior officials of the corporation. 

Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.