All Tibetan co-operatives made profit for the first time in its history

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Bylakuppe 21 August: All 15 Tibetan co-operatives have made profit for the first time in its history of 50 years. A total net profit of Rs 130 lakhs were made during the FY 2012-13. In the FY ending 2001, 10 co-operatives incurred loss and only 5 were in profit and until 2008 more then 5 cooperatives were always in loss. The co-operatives under net loss have gradually reduced year after year. In the FY ending 2009, 2010 and 2011 there were only 3 cooperatives in loss and in the FY 2011-12 only 2 co-operatives incurred loss.

In the mid-1980s, co-operative societies failed to perform and incurred huge losses resulting in closure of some of its business units and becoming a hub of bad debts.

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