CPSEs NET PROFIT PLUNGE 20 %

The overall net profit of CPSEs decreased by 19.71 per cent to Rs 1,03,003 crore during 2014-15 compared with Rs 1,28,295 crore in the previous fiscal, the Public Enterprises Survey said today. The overall loss of CPSEs rose 28.20 per cent rose to Rs 27,360 crore in 2014-15 as against Rs 21,341 crore in the previous year, the survey tabled in Parliament said. ONGC, Coal India, NTPC, National Mineral Development Corporation and Power Finance Corporation were the top five profit-making CPSEs during 2014-15. On the other hand, Bharat Sanchar Nigam Ltd, Air India, Mahanagar Telephone Nigam Ltd, Hindustan Photo Films Manufacturing Company and Mangalore Refinery and Petrochemicals were the top five loss-making CPSEs. However, the total investment (equity plus long-term loans) in all CPSEs stood at Rs 10,96,057 crore as on March 31, 2015 compared to Rs 9,92,096 crore as on March 31, 2014, recording a growth of 10.48 per cent. The total turnover/gross revenue from operation of all CPSEs during 2014-15 stood at Rs 19,95,902 crore compared to Rs 20,66,057 crore in the previous year showing a reduction in turnover of 3.40 per cent. The contribution of CPSEs to Central Exchequer by way of excise duty, customs duty, corporate tax, interest on Central Government loans, dividend and other duties and taxes decreased from Rs 2,20,982 crore in 2013-14 to Rs 2,00,585 crore in 2014-15, showing a decline of 9.23 per cent. Moreover, CPSEs employed 12.91 lakh people (excluding contractual workers) in 2014-15 compared to 13.49 lakh in 2013-14, showing a reduction in employees by 4.30 per cent. Out of 298 CPSEs under the administrative control of various ministries/departments, 235 were in operation and 63 were under construction up to December 2015.