BSNL, Air India, MTNL Are The Most Sick Government Companies: Government Survey
During the financial year 2016-17, IndianOil, ONGC and Coal India are the most profitable government companies, while BSNL, Air India and MTNL have suffered the most. This information has been given in a government survey presented on Tuesday in the Parliament.
According to Public Enterprises Survey 2016-17, during this period, 82 government companies were in loss. The loss of the top 10 companies has contributed 83.82 percent. Out of which BSNL, Air India, and MTNL have 55.66 percent share in the total loss of top 10 companies.
In the total profit of the top 10 companies, Indian Oil, ONGC, and Coal India have 19.69 percent, 18.45 percent, and 14.94 percent respectively.
Hindustan Petroleum Corporation and Mangalore Refinery and Petrochemicals Limited have been successful in making the top 10 companies in profits. Hindustan Fertilizer and Power Finance Corporation have fallen out of this list.
A total of 174 companies remained profitable during this period. 63.57 percent of the top 10 companies contributed to the combined profits of these companies.
Hindustan Cables, BHEL and ONGC Videsh Limited, who are in a loss during the financial year 2015-16, have been successful in making profits.
Western Coalfields, STCL, Air India Engineering Services and Brahmaputra Crankers and Polymer have joined the top 10 companies in the loss.
During this period, the combined profits of all 257 government-owned companies have increased by 11.7 percent to Rs 1,27,602 crore in the financial year 2016-17, compared to Rs 1,14,239 crore in the financial year 2015-16121125