PONDA: The Goa Milk Producers’ Union at Curti-Ponda, popularly known as Goa Dairy, has suffered a net loss of Rs 6.41 crore during the financial year 2019-2020, states the dairy’s annual report.
According to sources, the high cost of operations is one of the reasons for losses.
The issue is expected to be taken up for discussion at the forthcoming AGM, which is likely to be stormy, said a former chairman adding that the farmers are irked over the losses which have deprived them of several benefits.
The dairy has circulated the copies of the annual report to all its member societies. However, the financial report could not come for discussion as the AGM got postponed twice for various reasons.
However, some former chairman said, “The AGM, which is now postponed to January 31, is likely to be stormy with the Goa Dairy suffering losses to the tune of Rs 6.41 crore and various other issues will be on the agenda.”
According to the report, Goa Dairy has suffered a total net loss of Rs 6. 41 crore including a loss incurred by its cattle feed plant at Usgao (Rs 4. 5 crore) and the ice-cream unit (Rs 19 lakh) for the financial year 2019-20.
In 2018-19, the dairy made a total profit of Rs 2.60 cr including Rs 1.86 crore by its cattle feed plant. However, the ice-cream plant incurred a loss of Rs 8 lakh. The report mentioned that the high cost of operations resulted in a loss of Rs 6.41 crore.
