Coal India, ONGC and Indian Oil Corporation emerged as star financial performers among India’s central public sector enterprises in 2015-16, whereas SAIL, BSNL and Air India incurred most losses, a government survey has showed.
The Public Enterprises Survey, tracking the performance of CPSEs in 2015-16, revealed that the top three loss-making CPSEs—SAIL, BSNL and Air India—incurred a loss equal to 51.65 per cent of the total loss made by the top 10 loss-making CPSEs in 2015-16.
SAIL entered the list of top 10 loss-making CPSEs, apart from ONGC Videsh, Rashtriya Ispat Nigam, PEC and BHEL. Mangalore Refinery and Petrochemicals, STCL, Fertilizers and Chemicals (Travancore), Air India Engineering Services and Hindustan Fertilisers Corporation went to the profit zone in 2015-16.
The most profitable PSUs—Coal India, ONGC and IOC— contributed 17.82, 17.45 and 11.34 per cent, respectively, to the total profit earned by the top 10 profit-making CPSEs during the year, the survey tabled in Parliament revealed.
Hindustan Fertilizer Corporation and Mahanadi Coalfields entered the list of top 10 profit-making CPSEs, whereas NMDC and South Eastern Coalfields made their exit.
The top 10 profit-making companies accounted for 63.46 per cent of the total profits made by all (165) CPSEs during the year.
The top 10 loss-making companies claimed 79.81 per cent of the total losses made by all the 78 CPSEs during the year.