Karnataka-based Multi-State Cooperative Society- Tumkur Merchants Credit Cooperative (TMCC) has achieved a turnover of Rs 13,700 cr in the 2023-24 financial year. Though, it registered a marginal decrease in turnover, yet the net profit of the TMCC grew to Rs 48.05 crore from Rs 41.09 crore in comparison to the pervious year.
Talking to the Indian Cooperative correspondent the society Chairman N.S. Jayakumar informed, “We have performed well in the 2023-24 FY and earned a net profit of Rs 48.05 crore during the year”.he said.
“We expressed our gratitude to shareholders and customers for their support to achieve this landmark. We also proposed a 15 percent dividend for our shareholders”, said Jayakumar.
At present, the society’s area of operation is Karnataka and Maharashtra and has 12 branches and 4 extension counters.
The society was registered as Souhrada Credit Cooperative Limited on 23rd March 2006, it commenced operations on 30 April 2006. One of the novel services offered by TMCC is Cash Pickup and Cash Withdrawal at the doorstep of its customers.