New Delhi: A public sector enterprise survey tabled in the Parliament on December 27 has showed that Indian Oil Corporation Ltd (IOCL), Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation (NTPC) were the top three most profitable public sector companies in 2017-18, while Bharat Sanchar Nigam Ltd (BSNL), Air India and Mahanagar Telephone Nigam Limited (MTNL) recorded the highest plunge in balance sheets.
The Public Enterprises Survey 2017-18, which is released annually and maps the performance of the public sector enterprises, showed that the top 10 loss-making companies claimed 84.71 percent of the total losses made by 71 public sector undertakings (PSUs).
India Infrastructure Finance Co and Eastern Coalfields were two companies that had made profits until 2016-17 but tumbled into the list of loss-making PSUs this year.
The star performers — IOC, ONGC and NTPC — contributed 13.37 percent, 12.49 percent and 6.48 percent, respectively to the total profit earned by CPSEs during 2017-18, the survey revealed. On the other hand, the three worst-performing PSEs — BSNL, Air India and MTNL — contributed 52.15 percent of the total loss incurred by CPSEs. While Coal India and Power Grid Corporation occupied the fourth and the fifth spot in the list of top 10, Power Finance Corporation, which recently acquired Rural Electrification Corporation, made its debut into the top 10 list. Even as Coal India fared well in the last fiscal, its subsidiary Bharat Coking Coal Limited incurred huge losses and made its way to the list of top 10 loss making CPSEs.
India Infrastructure Finance Co and Eastern Coalfields were two companies that had made profits until 2016-17 but tumbled into the list of loss-making PSUs this year. The top 10 companies accounted for around 61.83 percent of the total profit earned by all the 184 profit making state-owned firms during the year.
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