BSNL, Air India, the PSUs with the highest MTNL losses in fiscal year 19; Most profitable ONGC: Survey
NEW DELHI: ONGC, Indian Oil Corporation and NTPC were the three main profitable PSUs in 2018-19, while BSNL, Indian air and MTNL suffered the biggest losses for the third consecutive year, according to a survey presented in Parliament on Monday.
The 2018-19 Public Business Survey, which maps the annual financial performance of all central UPMs, revealed that the top 10 companies in red numbers claimed a whopping 94.04 percent of the total losses caused by the 70 CPSE that caused losses during the year.
The top three profit making PSUs including Oil and (ONGC), Indian Oil Corporation and NTPC contributed 15.3 per cent, 9.68 per cent and 6.73 per cent, respectively to the total profit earned by all profitable CPSEs.
The State Commerce Corporation of India, MSTC and that were CPSE for profit in 2017-18, incurred losses in 2018-19 and are also among the top ten companies with losses, according to the survey.
The total income of all CPSE during 2018-19 was Rs 24,40,748 rupees compared to Rs 20,32,001 rupees in 2017-18, showing a growth of 20.12 percent.
The contribution of the CPSE to the central treasury by way of special taxes, customs duties, corporate taxes, corporate taxes, interest on central government loans, dividends and other duties and taxes was Rs 3.68,803 rupees in 2018- 19 compared to Rs 3, Rs 52,361 million in 2017-18, showing an increase of 4.67 percent.
The Department of Public Companies (DPE), Ministry of Heavy Industries and Public Companies, brings to light the performance of companies in the central public sector (CPSE) every year.
According to the survey, there were a total of 348 CPSE as of March 31, 2019, of which 249 were operational. The remaining 86 were under construction and 13 were in closing or liquidation.