ONGC top profit making public sector enterprises in 2021-22

Tags: Economy/Finance

According to the government of India’s Public Enterprise survey 2021-22, ONGC was the top profit making central public sector enterprises (CPSE) in 2021-22. After ONGC the other most profit making CPSE were Indian Oil Corporation, Power Grid, NTPC and SAIL.

 Highlights of the Public Enterprises Survey 2021-22 

• The net profit of operating public sector enterprises jumped 50.87 per cent to Rs 2.49 lakh crore during 2021-22. It was Rs 1.65 lakh crore in 2020-21.
• The net loss of loss-making CPSEs reduced to Rs 0.15 lakh crore in 2021-22 from Rs 0.23 lakh crore in 2020-21, showing a decrease of 37.82 per cent.
• Major loss-making CPSEs were Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd (MTNL), Air India Assets Holding Ltd, and Eastern Coalfields Ltd.
• Total gross revenue from the operations of operating CPSEs during 2021-22 was Rs 31.95 lakh crore as against Rs 24.08 lakh crore in 2020-21, showing an increase of 32.65 per cent.
• Dividend declared by operating CPSEs in 2021-22 stood at Rs 1.15 lakh crore, as against Rs 0.73 lakh crore in 2020-21, an increase of 57.58 per cent.
• The survey attributed the revenue rise in 2021-22 to better performance by the petroleum (refinery and marketing), crude oil and transport, and logistics segments.
• Petroleum (refinery and marketing), trading and marketing, and power generation, together contributed 69.08 per cent to the gross revenues in 2021-22.
• 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 Rs 5.07 lakh crore in 2021-22, as against Rs 4.97 lakh crore in 2020-21, showing an increase of 2.14 per cent.
• 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 Rs 4,600 crore in 2021-22 compared to Rs 4,483 crore in 2020-21, an increase of 2.61 per cent.
• The top five CPSEs contributing the highest under CSR were ONGC, NTPC, Indian Oil Corporation, NMDC and Power Grid.