Karwar: The Karnataka Fisheries Development Corporation (KFDC) has made a profit of Rs 2.29 crore in 2016-17 financial year, said its chairman, Rajendra Naik.

Speaking to the press people, he told  the reporters that the corporation was in loss for the last 10 years, but this year it did a business of Rs 200 crore and earned a profit of Rs 2.29 crore, which is a milestone in the KFDC’s development.

Now, the corporation has been making brisk business. “There were only a few ‘Matsya Darshini’ (hotels run by KFDC) in Karnataka. Now it has been increased to 18 and they are making a good business.

The corporation has also waived off Rs 16.57 lakh loans of 26 fishermen in the state,” he added.