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24 PSUs reported profits, 7 incurred losses in 2019-20

Bhubaneswar:2/8/22: As many as 24 state public sector enterprises (SPSE) reported a profit of Rs 1686.08 crore in 2019-20 and 22 SPSEs had reported a profit of Rs 1174.30 crore in 2018-19, according to the comptroller and auditor general (CAG) report tabled in the Odisha Assembly on Monday.

On the other hand, seven units incurred a loss of Rs 304.52 crore in 2019-20 which was Rs 313.26 crore in 2018-19, the report said.

Similarly, out of the 33 public sector units, 11 companies and corporations had accumulated losses of Rs 5,778.34 crore in total by March 31, 2020, the CAG report added.

According to the report, out of the 24 profitable companies, nine enterprises of three departments have reported a profit of Rs 1566.49 crore which is 92.91 percent of the total profit amount. It was 88.36 percent in 2018-19.

Among the highly profitable enterprises of 2019-20, Odisha Mining Corporation (OMC) registered Rs 728.27 crore profit, Odisha Mineral Bearing Areas Development Corporation (OMBADC) Rs 427.20 crore, Odisha Power Generation Corporation (OPGC) Rs 171.48 crore, Odisha Hydro Power Corporation Ltd (OHPC) Rs 144.39 crore and Odisha Construction Corporation Ltd (OCCL) Rs 50.13 crore.

Odisha has 82 SPSEs as of March 31, 2020, consisting of 63 government companies, three statutory corporations, and 16 other government-controlled companies.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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