Air India, MTNL and BSNL least profitable PSUs in 2016-17
By Express News Service | Published: 14th March 2018 02:09 AM |
NEW DELHI: The energy sector public sector undertakings (PSU) remained the best performers in 2017-18, with Indian Oil, ONGC and Coal India being the most profitable PSUs, while BSNL, Air India and MTNL incurred the highest losses, says a government survey report.
The Public Enterprises Survey 2016-17, brought out by the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises, which tracks the performance of all Central public sector enterprises (CPSEs), was tabled in Parliament on Tuesday.According to the survey report, Indian Oil, Oil and Natural Gas Corporation (ONGC), and Coal India added profits of 19.69 per cent, 18.45 per cent and 14.94 per cent, respectively, to the total profit earned by the top ten profit-making companies.
Two other energy sector companies, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemicals, also performed well in the year 2016-17 and made it to the list of the top ten profit-making CPSEs.However, MTNL incurred the maximum losses in the same year, followed by BSNL and debt-ridden Air India.The losses incurred by BSNL, Air India and MTNL together accounted for 55.66 per cent of the total losses of the top ten loss-making CPSEs.
The survey revealed that there were 82 loss-making CPSEs and together they reported losses of Rs 25,045 crore in 2016-17, compared to Rs 30,759 crore in 2015-16, which represents an 18.58 per cent reduction in their losses.
Overall, the profit growth of 257 operating PSUs was 11.7 per cent, up from Rs 1,14,239 crore in 2015-16 to Rs 1,27,602 crore in 2016-17. Also, the net worth of all CPSEs went up from Rs 10,79,953 crore in 2015-16 to Rs 11,07,981 crore in 2016-17, an increase of 2.60 per cent.
There were 331 CPSEs in 2016-17, out of which 257 were in operation.
174 operating CPSEs posted a net profit of G1,52,647 crore for FY 2016-17.
82 operating CPSEs posted a net loss of C25,045 crore for FY 2016-17.
Total investment in all 331 CPSEs stood at G12,50,373 crore as on 31.03.2017.