ONGC, Power Grid, IOC top profit-making PSUs in FY22
NEW DELHI: The net profit of operating public sector enterprises jumped 50.87 per cent to Rs 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers, according to a government survey.
The net profit of operating central public sector enterprises (CPSEs) stood at Rs 1.65 lakh crore in the previous fiscal.
The Public Enterprises Survey 2021-22 also revealed that the net loss of loss-making CPSEs narrowed to Rs 0.15 lakh crore in FY 2021-22 from Rs 0.23 lakh crore in FY 2020-21, showing a decrease of 37.82 per cent.
Major loss-making CPSEs include Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd (MTNL), Air India Assets Holding Ltd, Eastern Coalfields Ltd and Alliance Air Aviation Ltd.
“Total gross revenue from the operations of operating CPSEs during FY 2021-22 was Rs 31.95 lakh crore as against Rs 24.08 lakh crore in FY 2020-21, showing an increase of 32.65 per cent,” it said.
Dividend declared by operating CPSEs in FY 2021-22 stood at Rs 1.15 lakh crore, as against Rs 0.73 lakh crore in FY21, up 57.58 per cent.
The survey attributed the revenue rise in FY 2021-22 to better performance by the petroleum (refinery and marketing), crude oil and transport, and logistics segments.
Three cognate groups - petroleum (refinery and marketing), trading and marketing, and power generation - together contributed 69.08 per cent to the gross revenues in FY 2021-22.
The net profit of profit-making CPSEs stood at Rs 2.64 lakh crore in FY 2021-22 against Rs 1.89 lakh crore in the previous fiscal, up 39.85 per cent. The top five CPSEs with the highest net profits were ONGC, Indian Oil Corporation, Power Grid Corporation of India, NTPC and Steel Authority of India Ltd (SAIL), the survey said.
The contribution of all CPSEs to the central exchequer by way of excise duty, custom duty, GST, corporate tax, interest on central government loans, dividend, and other duties and taxes stood at Rs 5.07 lakh crore in FY 2021-22, as against Rs 4.97 lakh crore in FY 2020-21, showing an increase of 2.14 per cent.
The top five CPSEs contributing to the central exchequer were IOC, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Bharat Oman Refineries Ltd and Chennai Petroleum Corporation Ltd.
Manufacturing, processing and generation sector continues to command the highest share, followed by services, and mining and exploration