BSNL, Air India, MTNL Highest Loss-Making PSUs For Third Consecutive Year: Survey

The Public Enterprises Survey tabled in the Parliament on Monday, February 10, found that BSNL, Air India and MTNL incurred maximum losses for the third consecutive year. At the same time, ONGC, Indian Oil Corporation and NTPC remained the top three profitable PSUs in 2018-19.

The survey which monitors the annual financial performance of all central PSU found that the top 10 companies incurred a shocking 94.04 per cent of the losses made by 70 loss-making central public sector enterprises (CPSEs) during the year.

The top three profit-making PSUs which includes Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) and NTPC contributed 15.3 per cent, 9.68 per cent and 6.73 per cent, respectively to the combined profit earned by all the profitable CPSEs.

State Trading Corporation of India, Chennai Petroleum Corporation and MSTC, which incurred massive profit in 2017-18, suffered considerable losses in 2018-19 and were also among the top ten loss-making firms.

During 2018-19, the total income of all CPSEs was at ₹24,40,748 crores as against ₹20,32,001 crore in 2017-18, marking an improvement of 20.12 per cent.

The share of CPSEs to the central exchequer through excise duty, GST, corporate tax, interest on central government loans and other duties and taxes was at ₹3,68,803 crores in 2018-19 as compared to ₹3,52,361 crores in 2017-18, which is an increase of nearly 4.67 per cent.

The Department of Public Enterprises together with the Ministry of Heavy Industries & Public Enterprises reveal the Public Sector Enterprises Survey that analyses the performance of all CPSEs annually.

According to the survey, there were a total of 348 CPSEs as on March 31, 2019, of which 249 were operational. The other 86 were under construction, and 13 were under closure.

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