FY19: 189 CPSEs logged accumlated loss of Rs 1.4 lakh cr

New Delhi, Feb 10 (SocialNews.XYZ) The Comptroller and Auditor General (CAG) has said that as many as 189 central public sector enterprises (CPSEs) had accumulated losses of over Rs 1.40 lakh crore as of March 31, 2019.

A report by CAG noted that out of the 189 companies, the net worth of 77 companies had been completely eroded by their accumulated losses.

"As a result, the aggregate net worth of these companies had become negative to the extent of Rs 83,394.28 crore as on March 31, 2019. Only 15 out of these 77 companies earned profit of Rs 662.45 crore during the year 2018-19," it said.

During the financial year 2018-19, about 157 CPSEs incurred losses. The losses incurred by these companies during the year 2018-19 amounted to Rs 37,310 crore compared to Rs 41,180 crore in 2017-18. On the other hand, 247 government companies and corporations earned profit of nearly Rs 1.78 lakh crore during 2018-19 of which, 73 per cent was contributed by 63 government companies and corporations in three sectors -- petroleum, coal and lignite and power.

Return on Equity (RoE) in these 247 CPSEs was 18.58 per cent in 2018-19 as compared to 19.03 per cent in 225 CPSEs in 2017-18.

Further, the total market value of shares of 54 listed government companies, including five subsidiary companies, the shares of which were traded during 2018-19, stood at over Rs 14.29 lakh crore as on March 31, 2019.

Market value of shares held by the central government in 47 listed government companies (excluding seven subsidiary companies) stood at over Rs 13.35 lakh crore as on FY19-end.

Source: IANS