THIRUVANANTHAPURAM: When the turnover of the chemical sector registered a growth of 7.6 per cent, the profit of the sector has increased 5.33 times as compared to 2016-17. The Kerala Minerals and Metals Ltd (KMML) is the major performer contributing 52 per cent of the overall turnover and attained a record profit of Rs 195.78 crore.
The Travancore-Cochin Chemicals Ltd (TCC) stood second with 17 per cent contribution followed by Malabar Cements Ltd and Travancore Titanium Products Ltd with 16 and 12 per cent, respectively. Out of the seven PSUs in the sector, five units have positive net worth.
Since other sectors were lagging behind, the performance of the chemical sector was not really reflected in the total net profit of 40 PSUs under the Industries Department. Overall, 40 PSUs together generated a turnover Rs 2,978.54 crore, registering a net profit of Rs 106.91 crore. In fact, the performance of the chemical sector helped the Industries Department to post a profit of Rs 106.91 crore, against the Rs 80.67 crore loss it recorded in 2016-17.
Among the various sectors, textiles sector has registered the highest loss in last fiscal with Rs 76.76 crore, followed by engineering, traditional sector, electrical, and ceramic sectors with a loss of Rs 32.42 cr, Rs 24.59 cr and 9.94 cr, respectively.
Facts and figures
Total Turnover: Rs 2978.54 crore (increase of 7.2 per cent from 2016-17)
Profit Making Units increased to 14 from 13 during 2016-17
Profit of profit making (14) units: Rs 303.74 crore
Loss of loss making (26) units: Rs 196.83 crore
Net profit: Rs 106.91 crore