54 PSUs posted combined loss of Rs 14,424 cr in FY09

Fifty-four public sector companies, including Air India, Eastern Coalfields, Bharat Coking Coal and Scooters India, have posted a combined loss of Rs 14,424 crore in 2008-09, Parliament was informed today.

Among these, Air India (formerly National Aviation Company of India) incurred a loss of Rs 5,548.26 crore in 2008-09, followed by Eastern Coalfields, whose loss was at Rs 2,109.09 crore during the period, Minister of State for Heavy Industries and Public Enterprises A Sai Prathap told Rajya Sabha in a written reply.

He added that Bharat Coking Coal, the largest domestic coking coal producer, posted a net loss of Rs 1,380.47 crore in 2008-09.

Similarly, Hindustan Photo Films Manufacturing Company, which is engaged in the manufacturing of photo sensitive goods like medical X-ray and graphic arts, had posted a net loss of Rs 890.26 crore during the year, Sai Prathap said.

These four PSUs, put together, accounted for about 69% of losses, among the loss-making 54 PSUs during the period, he said.

Among the other loss-making PSUs, HMT Watches posted a loss of Rs 164.05 crore, Hindustan Shipyard of Rs 140.01 crore and Scooters India reported a loss of Rs 27.65 crore in 2008-09.

Talking about the steps taken by the government for revival of these PSUs, Prathap said that Board of Reconstruction of Public Sector Enterprises (BRPSE) chalks out the relevant strategies like financial and business restructuring on a case to case basis.