Date:25/10/2007 URL: http://www.thehindu.com/2007/10/25/stories/2007102562710400.htm

Karnataka - Bangalore

KHDC nets record profit of Rs. 4.36 cr.

Special Correspondent

Bangalore: The Karnataka Handloom Development Corporation (KHDC) has netted a record profit of Rs. 4.36 crore in the last financial year. This surpasses the cumulative profit made by the corporation between 1975 and 2006.

At a press conference here on Wednesday, KHDC Managing Director S.N. Jayaram described this as a remarkable achievement by an enterprise that was on the verge of closure and had been referred to the Board for Industrial and Financial Restructuring (BIFR) in 2001.

The corporation had pulled itself from the brink with financial help from the State and Union Governments, he said.

The corporation was planning to diversify in the coming years by expanding its product range and introducing designs that would attract the young.