BSNL, Air India, MTNL post net loss of ~116 bn in 2016-17

State owned telecommunication service providers Bharat Sanchar Nigam Limited (BSNL), Mahanagar Telephone Nigam Limited (MTNL) and state carrier Air India registered a net loss of more than ~116.86 billion in 2016-17.

The Public Enterprises Survey 2016-17, tabled in Parliament on Tuesday, by the department of public enterprises, showed the number of loss making central enterprises have continued to rise for the third straight year, growing to 82 in the last financial year.

Over the past four years, the Mo di government has stepped up its effort to streamline its operations spread across hundreds of Central Public Sector Enterprises( CPS E) and is hopingto rake in around ~1000 billion in 2017-18 through disinvestment in these firms. The preliminary target for 2018-19 is ~800 billion.

However, the net loss posted by all loss making central ventures is a staggering ~250.45 billion. Of this, more than 83 per cent of the loss emanates from the top 10 loss making CPSEs during 201617. The top list of under performing ventures also includes firms such as Hindustan Photo Films Manufacturing Companies and Rashtriya Ispat Nigam which have been hemorrhaging money for years.

However, the overall net profit made by all 257 operating Central Public Sector Enterprises (CPSE) in 2016-17 stood at ~1,276 billion. The survey also pointed out that reserves & surplus of all CPSEs went up to ~9,237 billion in 2016-17 up from ~8,985 billion in the year before.

The governments push towards streamlining the substantial workforce of these companies have resulted in a lower workforce in 2016-17. All CPSEs had a combined workforce of 11.31 lakh people excluding casual and contractual workers in 2016-17.