Tibetan Cooperatives earns 20 Million Profit

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Bangalore 1 Sept: With a total turnover of Rs. 700 Million, 15 Tibetan Cooperatives and FTCI made a whooping Rs. 20 Million profit last year. FTCI and its member cooperatives today have a total asset of Rs. 1500 Million and about Rs. 530 Million deposits.  Tibetan cooperatives run 150 units and employ more than 750 people. Last year 2 Cooperatives were under loss and remaining 13 made good profits.

TDL Cooperative Society Bylakuppe distributed Rs. 2.4 Million to the share members who sold  their maize product to the society last year. Among 150 units about 50 units were run solely for the benefit of Tibetan Community and not for profit. Some of those social oriented services include school buses, floor mills, crèche section, tractor section and so on. Majority of profits are earned in trading of agriculture produces, incense making, feeds, petrol bunk, carpet weaving  and fair price shops.

FTCI contributes about Rs. 2 Million towards salaries of 15 Coops Secretaries and Rs. 4 Lakhs towards Scholarships and drought relief last year. Tibetan Coops contributes 15% (Rs. 3 Million last year) from profits earn every year towards Central Tibetan Administration’s Budget.