Indian Oil, ONGC, NTPC Most Profitable PSUs In FY18

Representational image.

(Photo: Reuters)

Indian Oil Corporation, ONGC and NTPC emerged as the top three most profitable PSUs in 2017-18, while BSNL, Air India and MTNL incurred the highest losses for the second consecutive year, according to a survey tabled in Parliament Thursday, 27 December.

The Public Enterprises Survey 2017-18, which mapped the performance of central public sector units, revealed that the top ten loss making PSUs claimed 84.71 per cent of the total losses made by all the 71 CPSEs.

The three star performers, including Indian Oil Corporation, Oil & Natural Gas Corporation (ONGC) and NTPC, contributed 13.37 per cent, 12.49 per cent and 6.48 per cent, respectively to the total profit earned by CPSEs during 2017-18, the survey revealed.

Coal India and Power Grid Corporation occupied the fourth and fifth spot in the list of top 10 profit making CPSEs (Central Public Sector Enterprises) in the 2017-18 fiscal.

The three worst performing PSUs, including BSNL, Air India and MTNL, contributed 52.15 per cent of the total loss incurred by CPSEs in 2017-18.

On the other hand, Power Finance Corporation entered into the list of the top ten profit making CPSEs, while Mangalore Refinery & Petrochemicals Ltd has not featured in the latest list.

The top ten profit making CPSEs accounted for 61.83 per cent of the total profit earned by all the 184 profit making state-owned firms during the year.

Bharat Coking Coal Limited incurred huge losses in 2017-18 and has entered into the list of top ten loss making CPSEs, while India Infrastructure Finance Co and Eastern Coalfields, which were profit making PSUs till 2016-17, have started making losses and featured in the list of top ten loss making state-owned firms during 2017-18.