ONGC most profitable CPSE, BSNL biggest loss-making

Oil explorer ONGC was the country's most profitable PSU in 2013-14, while telecom major BSNL was the worst performer, says the Economic Survey. The pre-budget survey for 2014-15 said the net profit of 163 profit-making CPSEs during 2013-14 was Rs 1,49,164 crore, while the net loss of 71 loss-making CPSEs was Rs 20,055 crore. Oil and Natural Gas Corporation (ONGC), Coal India , National Thermal Power Corporation, Indian Oil Corporation , and National Mineral Development Corporation were the top five profit-making CPSEs during 2013-14. Bharat Sanchar Nigam Ltd (BSNL), Air India, Hindustan Photofilms Manufacturing, Hindustan Cables, and State Trading Corporation of India were the top five loss-making CPSEs in the same period. Financial investment, which includes the sum of paid-up capital and long-term loans, in all the CPSEs stood at Rs 9,92,971 crore as on March 31, 2014 showing an increase of 17.46 per cent over 2012-13. The contribution of CPSEs to the central exchequer by way of divided payment, interest on government loans, and payment of taxes and duties increased from Rs 1,63,207 crore in 2012-13 to Rs 2,20,161 crore in 2013-14. This was primarily due to increase in contribution towards dividend payment, excise duty, customs duty, corporate tax, and dividend tax. A total of 290 central public sector enterprises (CPSEs) existed under the administrative control of various ministries/ departments as on March 31, 2014. Of these, 234 were operational and 56 under construction.

The number of people working in central public sector enterprises declined further in 2013-14, while state-run oil explorer ONGC was the most profitable PSU in the fiscal, a government survey said. As on March 31, 2014, 290 CPSEs employed over 13.51 lakh people (excluding contract workers), compared to 14.02 lakh in 2012-13. "The total strength of CPSEs has gone down by 50,213 persons due to superannuation, voluntary retirement etc," said the Public Enterprises Survey tabled in Parliament today. Among the top performing central public sector enterprises (CPSEs), ONGC incurred a net profit of Rs 22,094.81 crore, followed by Coal India (Rs 15,008 crore), NTPC (Rs 10,975 crore); Indian Oil Corporation (Rs 7,019 crore), NMDC Ltd (Rs 6,420 crore); Power Finance Corporation (Rs 5,418 crore). The other companies in the top ten include South Eastern Coalfields (Rs 4,772 crore); Rural Electrification Corporation (Rs 4,684 crore); Power Grid Corporation (Rs 4,497 crore); ONGC Videsh (Rs 4,445 crore). Telecom major BSNL remained the biggest loss-making enterprise during 2013-14 as well with losses mounting to over Rs 7,019 crore. Air India came in at the second spot, followed by Hindustan Photo Films, Hindusttan Cables, State Trading Corporation of India, Hindustan Fertiliser Corp, STCL Ltd, ITI Ltd, Chennai Petroleum Corporation and Shipping Corporation of India.

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