Nearly three-fold increase in loss of public sector units

By Special Correspondent on Wed, 04/05/2016 - 06:48

Review of Public Enterprises Thiruvananthapuram: The net loss of public sector enterprises in the State has increased by 183 per cent in 2014-15 with half of the working units making losses.

A review of public enterprises published by Bureau of Public Enterprises records that the loss incurred by government in running public sector units had increased from Rs.2030.05 crores as against a net loss of Rs. 717.03 crores in 2013-14.

The number of profit earning enterprises during 2014-15 has come down to 44 (45.83% of total) as compared to 45 enterprises during the previous year. The total amount of profits earned by these 44 enterprises amounts to Rs. 700.96 crores (increase of 5.46%) as against total profit of Rs. 664.67 crores earned by 45 enterprises in 2013-14.

Forty Six enterprises have reported losses amounting to Rs. 2731.01 crores (increased by 97.66%) as against Rs. 1381.70 crores loss registered by 48 enterprises during the previous year. Five other enterprises including NORKA roots and Kerala State Welfare Corporation for Forward Communities Limited have not provided information for the analysis.

The total paid up capital of the active enterprises at the end of the year 2014-15 amounts to Rs. 13815.24 crores (increase of 3.62% from previous year) and the capital invested totals to Rs. 40556.65 crores (increase of 10.06% from previous year).

These enterprises have together achieved net sales of Rs. 32624.96 crores during the year (Increase of 6.81% from previous year).

The net worth of all these enterprises taken together amounts to Rs. 9367.07 crores (decrease of 13.70% from previous year), while the total accumulated losses (incurred by 52 enterprises) as on March 2015 amount to Rs. 11757.58 crores.

During the year, the SLPEs together contributed an amount of Rs. 8610.05 crores (8.86% of increase) to the State Exchequer by way of taxes and duties and Rs. 53.59 crores was paid as Guarantee Commission. The total dividends declared/proposed for the year is worth Rs. 18.43 crores (Rs. 48.02 crores during 2013-14).