Date:15/03/2007 URL: http://www.thehindubusinessline.com/2007/03/15/stories/2007031501732100.htm

Back Net loss of Kerala PSUs declines

Our Bureau

Thiruvananthapuram March 14 The state-level public sector undertakings in Kerala have performed better, albeit collectively, in 2005-06 with a significant reduction in net loss as compared to the previous year.

The net loss during the year was Rs 114.18 crore as against a net loss of Rs 208 crore in 2004-05, according to the annual review report of the Bureau of Public Enterprises.

During the year, 32 PSUs reported profits totalling Rs 316.85 crore, whereas the combined profit was Rs 290.65 crore, accounted for by 39 enterprises, in the previous year. The remaining 56 PSUs incurred losses to the tune of Rs 431 crore, leaving a net loss of Rs 114.18 crore.

The report has attributed the reduction in net loss mainly to the performance of the State Civil Supplies Corporation, which recorded a profit of Rs 4.63 crore as against a loss of Rs 76.44 crore in the previous year.

PROFIT MAKERS

The top five profit-making enterprises were: Kerala State Electricity Board (Rs 101.26 crore); Kerala State Beverages Corporation (Rs 48.23 crore); Kerala State Financial Enterprises (Rs 44.14 crore); Kerala State Industrial Development Corporation (Rs 21.88 crore); and Kerala Minerals and Metals Ltd (Rs 17.73 crore).

Similarly, the top five loss-making undertakings during the year were: Kerala State Road Transport Corporation (Rs 104.27 crore); Kerala Water Authority (Rs 96.18 crore); Kerala State Housing Board (Rs 41.59 crore); Kerala State Cashew Development Corporation (Rs 39.68 crore); and Kerala State Electronics Development Corporation (Rs 38.31 crore).

During the year, the PSUs together reported a turnover of Rs 9,232.51 crore compared with Rs 8,261.63 crore in 2004-05, representing an increase of 11.75 per cent.

The combined net worth of the enterprises in 2005-06 was Rs 2,581.97 crore as against Rs 2,588.81 crore in the previous year.

The net worth was negative in 32 enterprises and the highest negative net worth was observed in State Road Transport Corporation, followed by State Civil Supplies Corporation, Keltron, State Housing Board and the State Cashew Development Corporation. Besides, 54 enterprises carried forward losses to the tune of Rs 5,706.96 crore in 2005-06 compared with Rs 5,258.92 crore as at the end of 2004-05.

During the year, nine PSUs declared dividends worth Rs 6.66 crore as compared to a total dividend of Rs 14.07 crore by 14 enterprises in the previous year. The nine PSUs included Kerala State Financial Enterprise (Rs 2 crore); Oil Palm India Ltd (Rs 1.18 crore); Rehabilitation Plantations Ltd (Rs 0.92 crore); and Kerala Feeds Ltd (Rs 0.69 crore).