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Overall loss of Tamil Nadu PSUs widens to ₹17,423.56 crore in 2017-18


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Overall loss of Tamil Nadu PSUs widens to ₹17,423.56 crore in 2017-18

A report tabled in the Legislative Assembly on the 55 PSUs in the State, revealed that the overall net losses had increased from ₹8,699.81 crore in 2016-17 to ₹17,423.56 crore in 2017-18 The 55 State public sector understandings (PSUs) in Tamil Nadu posted overall net losses of ₹17,423.56 crore in 2017-18, when compared to a…

A report tabled in the Legislative Assembly on the 55 PSUs in the State, revealed that the overall net losses had increased from ₹8,699.81 crore in 2016-17 to ₹17,423.56 crore in 2017-18

The 55 State public sector understandings (PSUs) in Tamil Nadu posted overall net losses of ₹17,423.56 crore in 2017-18, when compared to a loss of ₹8,699.81 crore in 2016-17, according to a report tabled in the recently-concluded Legislative Assembly session.

The aggregate cash loss has increased to ₹14,043.03 crore in 2017-18 from ₹5,670.36 crore in 2016-17, according to review of performance of State public sector undertakings for the year 2017-18, prepared by the Finance (Bureau of Public Enterprises) Department.

The total turnover of the 55 PSUs increased 3.19% to ₹1,11,460.19 crore in 2017-18 from ₹1,08,010.55 crore in 2016-17. The aggregate net profit earned by 32 PSUs was ₹569.32 crore in 2017-18, when compared to an aggregate net profit of ₹830.77 crore earned by 35 PSUs during 2016-17.

The aggregate loss incurred by 23 PSUs during 2017-18 was ₹17,992.88 crore, as against the aggregate loss of ₹9,530.59 crore suffered by 20 PSUs during 2016-17.

Out of the 11 sectors except agri and allied, manufacturing, passenger transport and energy sectors, all other sectors earned profits during 2017-18, the report said.

The aggregate amount of investment made by the State government including share capital, loan plus accrued interest in the PSUs stood at ₹53,986.96 crore as on March 31, 2018, when compared to ₹54,904.08 crore as on March 31, 2017.

In terms of overall turnover, the energy sector contributed 52.69% followed by trading group at 30.33% (which includes TASMAC), while passenger transport accounted for 7.98%.

The Tamil Nadu State Marketing Corporation Limited (TASMAC) profit declined to ₹18.20 crore in 2017-18, from ₹68.80 crore in 2016-17. Its turnover stood at ₹31,757.71 crore in 2017-18, marginally higher than the ₹31,262.43 crore in 2016-17.

The total number of employees in the PSUs was 2,44,333 as on March 31,2018 against 2,47,556 as on March 31, 2017. Out of this headcount, the transport and electricity sector accounted for 1,34,520 and 87,730 respectively as of March 31, 2018. The manpower cost to turnover has increased to 17.43% during 2017-18 from 13.73% in 2016-17.

At the eight Statutory Boards (which include Chennai Metropolitan Water Supply and Sewerage Board, Tamil Nadu Housing Board, Slum Clearance and Pollution Control Boards among others) the aggregate loss increased to ₹588.39 crore in 2017-18 from ₹446.24 crore in 2016-17. The overall turnover of Statutory Boards increased to ₹3330.83 crore in 2017-18 from ₹2258.63 crore in the previous year.

Among the Statutory boards, Chennai Metropolitan Water Supply and Sewerage Board posted a loss of ₹294.93 crore in 2017-18, when compared to a loss of ₹205.56 crore in 2016-17. The Chennai Metropolitan Development Authority posted a surplus of ₹175.10 crore in 2017-18, up from ₹147.94 crore in 2016-17.

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