Thursday, September 29, 2022

Public Enterprises Survey: BSNL, MTNL Air India top loss-making PSUs in 2018-19

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New Delhi: While ONGC (Oil & Natural Gas Corporation), Indian Oil Corporation (IOC) and NTPC Limited were the top three profitable PSUs, BSNL, Air India and MTNL were the top three loss-making state companies, the Public Enterprises Survey for the year 2018-19 has said. The Public Enterprises Survey 2018-19 showed that the top 10 loss-making PSUs claimed a big 94.04 percent of the total losses made by all the 70 loss-making companies during the year.

Public Enterprises Survey 2018-19: The profit-makers

The survey found that the top three profit-making PSUs, including Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation and NTPC, contributed 15.3 percent, 9.68 percent and 6.73 percent, respectively to the total profit earned by all profitable CPSEs. Total income of all CPSEs during 2018-19 stood at Rs 24,40,748 crore as compared to Rs 20,32,001 crore in 2017-18, showing a growth of 20.12 percent.

STC, MSTC & CPCL incurred losses

Three PSUs — State Trading Corporation of India, MSTC and Chennai Petroleum Corporation — which were profit-making CPSEs in 2017-18, incurred losses in 2018-19. These three also featured in the list of top 10 loss-making companies. The contribution of CPSEs to the central exchequer by way of excise duty, customs duty, GST, corporate tax, interest on central government loans, dividend and other duties and taxes stood at Rs 3,68,803 crore in 2018-19 as against Rs 3,52,361 crore in 2017-18, showing an increase of 4.67 percent.

The backdrop

The Department of Public Enterprises (DPE), Ministry of Heavy Industries & Public Enterprises, brings out the Public Sector Enterprises Survey on the performance of central public sector enterprises (CPSEs) every year. As per the survey, there were total of 348 CPSEs as on March 31, 2019 out of which 249 were operational. The remaining 86 were under construction and 13 were under closure or liquidation.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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