CPSEs’ net profit down 20% to `1.38 lakh crore in FY20

The net profit of CPSEs dropped 20 per cent to Rs 1.38 lakh crore in 2019-20 against Rs 1.74 lakh crore in the previous year, primarily led by a fall in profits in the petroleum sector, a report of the Department of Public Enterprises (DPE) said.

Net loss of loss-making CPSEs stood at Rs 44,817 crore in FY20 (84 CPSEs) against Rs 31,620 crore in FY19 (69 CPSEs), an increase of 41.7 per cent.

Overall net profit of operating CPSEs during 2019-20 stood at Rs 93,295 crore against Rs 1,42,666 crore in the previous year, down 34.6 per cent, the 60th annual Public Enterprises Survey 201920 said.

A Care Ratings report said government needs to work towards resolving the issue of the existence of over 100 public sector enterprises (PSE) with zero operational income, to extract value from such assets.

The survey covers CPSE in which Government of India holds more than 50 per cent equity.

There were 366 CPSEs as of FY20, of which 256 were operational and 58 are listed.There were 96 CPSEs under construction and 14 under liquidation.

"Over the past decade (FY 2009-10 to FY 2019-20), the number of operating CPSEs increased from 217 to 256. During the same period, the turnover of all CPSEs increased from Rs 12.4 lakh crore in FY 200910 to Rs 24.6 lakh crore in FY 2019-20, witnessing an absolute increase of 98.4 per cent," the survey.said.

Reserves and surplus of all CPSEs stood at Rs 9,57,579 crore as on March 31, 2020 against Rs 9,97,368 crore on March 31, 2019, a decrease of 4 per cent.

Net worth of all CPSEs rose from Rs 12,11,311 crore as on March 31, 2019 to Rs 12,35,706 crore as on March 31, 2020, up 2 per cent.

Dividend declared/paid by operating CPSEs (105) in 2019-20 dipped 0.3 per cent to Rs 72,136 crore from Rs 71,916 crore in the preceding fiscal.

Gross revenue from operations of 256 operating CPSEs during FY20 was Rs 24,61,712 crore.