THIRUVANANTHAPURAM: Public sector enterprises in Kerala registered an impressive performance in 2021-22 with the number of profit-making units going up by 15%, and the net profit by these units by a whopping 265.5%.
However, nearly half of the state-owned enterprises registered losses, but their aggregate deficit showed a dip of 18.41%.
According to the latest annual review of state-level public enterprises (SLPEs) brought out by the Bureau of Public Enterprises, the number of profit-making units rose to 60 in 2021-22 as against the previous year’s 52. The net profit of 60 units was Rs 1,570.21 crore against the lockdown-wrecked previous year’s Rs 429.58 crore. The review covered 121 of the total 131 active enterprises under the state government.
The net loss incurred by the remaining 61 SLPEs taken together was Rs 3,289.16 crore during 2021-22 as against Rs 4,031.23 crore during the previous year.
All the 121 units together made a loss of Rs 1,718.95 crore, a 52.27% dip compared to the previous year when it was Rs 3,601.65 crore. The net turnover achieved by the SLPEs in 2021-22 was Rs 36,648.97 crore, a 10.61% increase from the previous year’s Rs 33,134.18 crore.
The SLPEs provided employment to 1,27,416 persons in different categories, including casual and contract employees, in FY 22 while it was 1,33,369 in the previous fiscal.
Profit-making units: KSEB tops list
The KSEB that topped the list of profit-making units was listed among the loss-making enterprises in the previous fiscal. The stupendous growth, according to the review, is due to the 13.58% increase in revenue and limiting the growth of expenses at 3.87%. Interestingly, the Beverages Corporation, which recorded a net profit of 16.71 crore, was ranked tenth in the list.
What went wrong? Review's findings
KSRTC: 46.63% increase in revenue was undone by a sharp decline in daily collection due to lockdown imposed restrictions.
KWA: registered 9.41% increase in revenue. But hit by increased expenses towards employee benefit, fuel and power charges and provision made for prior period adjustments.
Supplyco: 13.23% YoY decrease in revenue. Incurred losses in free food supply during the pandemic. Government yet to pay up dues for subsidised distribution of 14 essentials.