19 loss-making CPSEs returned to profit in FY21
By MYBRANDBOOK
Data from the Public Sector Enterprises Survey 2020-21 showed that 19 central public sector enterprises (CPSEs) including Chennai Petroleum Corp (CPCL), Western Coalfields (WCL), and National Fertilizers (NFL), returned to profit in FY21 from loss.
However, despite reporting profit over Rs 200 crore each, CPCL, WCL, and NFL registered a fall in their revenue. The profit was mainly on account of reduced expenditure. CPCL reduced its total expenses by 21 percent, NFL by 10.45 percent, and WCL 5.84 percent.
The majority of CPSEs returning from loss to profit were from industrial and consumer goods sectors, such as Sambhar Salts, Hindustan Salts, Andrew Yule & Company, and Cement Corporation of India. Of the 255 operational CPSEs, as many as 177 recorded net profit and 77 recorded net loss.
Privatised CPSEs have performed better than their peers in terms of net worth, profit, return on equity, return on assets (RoA), and sales, among others. The RoA and net profit margin turned around from negative to positive surpassing that of the peer firms which indicates that privatised CPSEs have been able to generate more wealth from the same resources.
The salt manufacturing units of Sambhar Salts were able to leverage the favourable market conditions and accordingly the salt prices were increased, which, along with effective cost-cutting measures, contributed towards better performance.
The strong growth in cement consumption amid the pandemic is believed to have helped Cement Corporation of India make profit as labour availability in rural India aided growth in construction of rural infrastructure and low-cost housing. Andrew Yule & Company saw an increase in the net sales of tea and foreign earnings.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
ALPHAMAX TECHNOLOGIES PVT. LTD.
BEETEL TELETECH LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
ICONS OF INDIA : RITESH AGARWAL
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder a...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
PARTNER SPEAKERS
PSU
STPI - Software Technology Parks of IndiaÂ
STPI promotes and facilitates the growth of the IT and ITES industry i...
IREDA - Indian Renewable Energy Development Agency LimitedÂ
IREDA is a specialized financial institution in India that facilitates...
IFFCO - Indian Farmers Fertiliser CooperativeÂ
IFFCO operates as a cooperative society owned and controlled by its fa...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporationâ€...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
