ONGC, Indian Oil Becomes Top Profit Generating Public Sector Company in 2021-22

ONGC, Indian Oil Becomes Top Profit Generating Public Sector Company in 2021-22

Dividend announced by active CPSEs for the financial year 2021-22 is Rs 1,15 lakhs. (File)

New Delhi:

According to a government survey, net profit of operating public sector businesses has increased by 50.87% to Rs 2.49 lakh between 2021-22, with ONGC, Oil Corporation of India , Power Grid, NTPC and SAIL emerged as the top five performing businesses.

The net profit of Central Public Sector Enterprises (CPSE) was running at Rs 1,65 lakh in the previous fiscal.

The 2021-22 Public Enterprise Survey also revealed that the net loss of loss-making CPSEs narrowed to Rs 0.150,000 in FY 2021-22 from Rs 0.23 lakh in FY 2020. -21, showing a decrease of 37.82%.

Big losers include Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd (MTNL), Air India Assets Holding Ltd, Eastern Coalfields Ltd and Alliance Air Aviation Ltd.

“Total operating gross revenue of operating CPSEs in FY 2021-22 was Rs 31.95 lakh compared to Rs 24.08 lakh in FY 2020-21, representing an increase of 32.65%. “, it said.

Dividend declared by active CPSEs for FY 2021-22 is Rs 1,15 lakh, compared to Rs 0.73 lakh in FY 2021, an increase of 57.58%.

The survey attributed the revenue increase in fiscal year 2021-22 to better performance in the petroleum (refinery and marketing), crude oil and transportation and logistics segments.

Among sectors, manufacturing, processing and power generation continued to account for the highest proportion, followed by services, mining and exploration.

Three groups in the same category — petroleum (refining and marketing), sales and marketing, and power generation — together contributed 69.08% of total revenue in the 2021-22 financial year.

Net profit of the CPSEs generating profits stood at Rs 2,64 lakh in the financial year 2021-22 compared to Rs 1,89 lakh in the previous financial year, an increase of 39.85%. The top five CPSEs with the highest net profit are ONGC, Oil Corporation of India, Grid Corporation of India, NTPC and Steel Regulatory Authority of India (SAIL), the survey said.

The contribution of all CPSEs to the central budget through excise taxes, customs duties, GST, corporate taxes, interest on central government loans, dividends, and other obligations and other tax at Rs 5.07 lakh in the fiscal year 2021-22, compared to Rs 4.97 lakh crore in the fiscal year 2020-21, indicating an increase of 2.14%.

The top five CPSEs contributing to the central budget are Petroleum Corporation of India, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Bharat Oman Refining and Petrochemical Company Limited and Chennai Petroleum Corporation.

In addition, corporate social responsibility (CSR) spending of all CSR eligible CPSEs (160) stood at Rs 4,600 crore in FY 2021-22 compared to Rs 4,483 crore in FY-21 , up 2.61%.

The survey adds that the top five CPSEs that contribute the most to CSR are ONGC, NTPC, Indian Oil Corporation, NMDC and Power Grid.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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