Team Blitz India
NEW DELHI: The central public sector enterprises (CPSEs) posted a robust 57% growth in aggregate net profit in FY22, reflecting higher earnings of the state-run firms from high commodity prices and lower operating costs. The robust growth has come despite waning of the favourable base, caused by the decline in operations in the pandemic period.
These firms reported a 70% growth in net profit in FY21 after clocking a decline of nearly 35% in FY20.
The net profit of the 247 CPSEs rose to Rs 2.49 trillion in FY22, according to data provided by the Finance Ministry to Parliament. About 254 operating CPSEs reported Rs 1.58 trillion in FY21.
As per the information available, the total profit of 188 profit-making CPSEs during FY22 was Rs 2.64 trillion, up 39.85% on year. Fifty-nine loss-making CPSEs reported a total loss of Rs 15,000 crore during the last financial year, showing a decline of 37.82% on year.
