BSNL, Air India and MTNL are the worst performing PSUs in 2016-17

The three companies - BSNL, Air India and MTNL - accounted for 55.66% of the total losses suffered by the top ten loss-making central public sector enterprises in 2016-17.

business Updated: Mar 13, 2018 17:55 IST
Press Trust of India, New Delhi
BSNL,MTNL,Air India
BSNL was one of the worst performing PSUs in 2016-17. (REUTERS File)

Indian Oil, ONGC and Coal India have emerged as the most profitable public sector units (PSUs) for financial year 2016-17, whereas BSNL, Air India and MTNL incurred the highest losses, according to a government survey tabled in the parliament on Tuesday.

The Public Enterprises Survey 2016-17, which mapped the performance of central public sector units, showed that the top ten loss-making state-owned firms accounted for a whopping 83.82% of the total losses made by 82 loss-making central public sector enterprises (CPSEs) during the year.

BSNL, Air India and MTNL incurred 55.66% of the total losses suffered by the top ten loss-making CPSEs in 2016-17.

The top three performers -- Indian Oil Corporation Ltd, Oil and Natural Gas Corporation (ONGC) and Coal India Ltd -- contributed 19.69%, 18.45% and 14.94%, respectively, to the total profit earned by the top ten profit making CPSEs during 2016-17.

Hindustan Petroleum Corporation and Mangalore Refinery and Petrochemicals Ltd entered the list of the top ten profit-making CPSEs, while Hindustan Fertiliser Corporation and Power Finance Corporation moved out of this league.

The top ten profit-making companies accounted for 63.57% of the total profit made by 174 profit making CPSEs during the year. Hindustan Cables, BHEL and ONGC Videsh Limited (OVL), which had incurred losses in 2015-16, swung into profit in 2016-17, while Western Coalfields Ltd, STCL, Air India Engineering Services and Brahmaputra Crackers and Polymer Ltd entered into the top ten loss-making CPSEs.

The overall net profit of all 257 operating PSUs during 2016-17 stood at Rs 1,27,602 crore compared to Rs 1,14,239 crore during the previous year, showing a 11.7% growth.

First Published: Mar 13, 2018 17:26 IST