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Top profit making PSUs in FY22 – ONGC, Indian Oil, Power Grid

top profit making PSUs

Top profit making PSUs in FY22

Top profit making PSUs – According to a government poll, the top five performers among public sector companies’ net profits in 2021–22 were ONGC, Indian Oil Corp., Power Grid, NTPC, and SAIL, with a 50.87 percent increase to 2.49 lakh crore.

In the preceding fiscal year, functioning central public sector enterprises (CPSEs) had a net profit of $1.65 lakh crore.

The net loss of loss-making CPSEs dropped to 0.15 lakh crore in FY 2021-22 from 0.23 lakh crore in FY 2020-21, demonstrating a decline of 37.82%, according to the Public Enterprises Survey 2021–22.

Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd (MTNL), Air India Assets Holding Ltd, Eastern Coalfields Ltd, and Alliance Air Aviation Ltd. are significant loss-making CPSEs.

Top profit making PSUs

According to the statement, “Total total revenue from the activities of running CPSEs during FY 2021–22 was Rs. 31.95 lakh crore as against Rs. 24.08 lakh crore in FY 2020–21, representing a growth of 32.65 per cent.”

The combined gross revenues of the three closely related industries of petroleum (refinery and marketing), trading and marketing, and power generation in FY 2021–22 were 69.08 percent.

The net earnings of profit-making CPSEs increased by 39.85% to 2.64 lakh crore in FY 2021–22 from 1.89 lakh crore the previous year. According to the poll, ONGC, Indian Oil Corporation, Power Grid Corporation of India, NTPC, and Steel Authority of India Ltd (SAIL) were the top five CPSEs with the largest net earnings.

In comparison to FY 2020-21, all CPSEs contributed 5.07 lakh crore to the national exchequer through excise duty, custom duty, GST, corporation tax, interest on central government loans, dividend, and other levies and taxes, a 2.14 percent rise.