The central public sector enterprises (CPSEs) posted a whopping 51% annual growth in aggregate net profit at Rs 2.49 trillion in FY22, with ONGC, Indian Oil and Power Grid emerging as the top profit-making CPSEs.
The top five CPSEs accounted for 41.57% and the top 10 accounted for 60.91% of the aggregate net profit in FY22, according to the Public Enterprises Survey 2021-22.
Oil & Natural Gas Corporation (ONGC) contributed the highest net profit at Rs 40,306 crore in FY22, up 258% on-year. IOC
As many as 22 CPSEs returned to profit from a loss in FY22 by reporting a total profit of Rs 7,201 crore in FY22 in comparison to a total loss of Rs 8,099 crore in FY21. These include Mangalore Refinery & Petrochemicals Ltd and Rashtriya Ispat Nigam Ltd.
Bharat Sanchar Nigam Ltd (BSNL) was the top loss-making CPSEs with a loss of Rs 6,982 crore in FY22, followed by Mahanagar Telephone Nigam Ltd at Rs 2,603 crore and Air India Assets Holding Ltd at Rs 1,417 crore.
Total gross revenue from the operations of 248 operating CPSEs during FY22 was Rs 31.95 trillion as against Rs 24.08 trillion in FY21, showing an increase of 32.65%. The top five CPSEs having the highest revenue during FY22 were Indian Oil
Dividends declared by operating CPSEs (112) in FY22 stood at Rs 1.15 trillion, up 57.58% on-year.