Current Affairs   »   Business Current Affairs & News 2022   »   ONGC Top Profit Making Public Sector...

ONGC Top Profit Making Public Sector Enterprises in 2021-22

The net profit of operating public sector enterprises jumped 50.87 per cent to ₹ 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers. The net profit of operating central public sector enterprises (CPSEs) stood at ₹ 1.65 lakh crore in the previous fiscal. The Public Enterprises Survey 2021-22 also revealed that the net loss of loss-making CPSEs narrowed to ₹ 0.15 lakh crore in FY 2021-22 from ₹ 0.23 lakh crore in FY 2020-21, showing a decrease of 37.82 per cent. Major loss-making CPSEs include Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd (MTNL), Air India Assets Holding Ltd, Eastern Coalfields Ltd and Alliance Air Aviation Ltd. 

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

More About This:

The survey attributed the revenue rise in FY 2021-22 to better performance by the petroleum (refinery and marketing), crude oil and transport, and logistics segments. Dividend declared by operating CPSEs in FY 2021-22 stood at ₹ 1.15 lakh crore, as against ₹ 0.73 lakh crore in FY21, up 57.58 per cent.

Highest Contributing Sectors:

Among the sectors, manufacturing, processing and generation sector continues to command the highest share, followed by services, and mining and exploration. Three cognate groups – petroleum (refinery and marketing), trading and marketing, and power generation – together contributed 69.08 per cent to the gross revenues in FY 2021-22.

A Humongous Growth:

The net profit of profit-making CPSEs stood at ₹ 2.64 lakh crore in FY 2021-22 against ₹ 1.89 lakh crore in the previous fiscal, up 39.85 per cent. The top five CPSEs with the highest net profits were ONGC, Indian Oil Corporation, Power Grid Corporation of India, NTPC and Steel Authority of India Ltd (SAIL).

The contribution of all CPSEs to the central exchequer by way of excise duty, custom duty, GST, corporate tax, interest on central government loans, dividend, and other duties and taxes stood at ₹ 5.07 lakh crore in FY 2021-22, as against ₹ 4.97 lakh crore in FY 2020-21, showing an increase of 2.14 per cent.

The Top 5 Central Public Sector Enterprises:

The top five CPSEs contributing to the central exchequer were Indian Oil Corporation, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Bharat Oman Refineries Ltd and Chennai Petroleum Corporation Ltd.

Besides, the corporate social responsibility (CSR) expenditure of all CSR eligible CPSEs (160) stood at ₹ 4,600 crore in FY 2021-22 compared to ₹ 4,483 crore in FY-21, up 2.61 per cent.

The top five CPSEs contributing the highest under CSR were ONGC, NTPC, Indian Oil Corporation, NMDC and Power Grid.

Find More Business News Here

 

ONGC Top Profit Making Public Sector Enterprises in 2021-22_50.1

 

ONGC Top Profit Making Public Sector Enterprises in 2021-22_60.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *