Total profit of profit-making CPSEs increased by 37.53% during FY20-21

16 Mar 2022 , 10:28 AM

According to the Ministry of Finance, there are 255 operational Central Public Sector Enterprises (CPSEs) as on March 31, 2021, with a total turnover of Rs24,26,045 crore in 2020-21. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha.

Giving more details, the Minister stated that out of these, 177 CPSEs are profit-making with a total profit of Rs1,89,320 crore. The total profit of profit-making CPSEs has increased by 37.53% and the total loss of loss-making CPSEs has decreased by 29.86% during FY 2020-21 over FY 2019-20.

Based on the information provided by the Navratna CPSEs for FY 2020-21, the performance in terms of overall profit has shown improvement over the previous year in respect of most of the Navaratna CPSEs. None of the Navaratna CPSEs has reported a loss of jobs due to cost-cutting efforts.