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PSUs Performance
Public sector banks' cumulative profit rose to a record level of Rs 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of Rs 1.41 lakh crore in FY24. The year-on-year increase in profit in absolute terms rose by about Rs 37,100 crore in FY25. Out of the total profit of Rs 1,78,364 crore earned during the FY25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 70,901 crore in FY25, 16 per cent higher than the previous fiscal (Rs 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to Rs 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to Rs 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit. Among the banks, which
State-owned REC Ltd on Monday said it sanctioned Rs 1,12,747 crore worth of loans during April-June FY25, posting a year-on-year growth of 24.17 per cent. It had sanctioned Rs 90,797 crore as loan during the year-ago period, the company said in an exchange filing. Loan disbursements rose 27.89 per cent to Rs 43,652 crore in the period under review. During June quarter FY25, Rs 39,655 crore was sanctioned for renewable energy projects, up 58.72 per cent from the year-ago period. Loan disbursements more than doubled to Rs 5,351 crore from Rs 1,534 crore. REC, under Ministry of Power, is a non-banking financial company (NBFC) focusing on power sector financing in India.
SBI Chairman Dinesh Kumar Khara has said the lender would wait for its subsidiaries like SBI General Insurance and SBI Payment to further scale up their operations before monetising them. Scaling up of their operation will increase valuation and ensure better returns for the parent State Bank of India (SBI). When it comes to subsidiaries, their monetisation would be through the capital market, he told PTI in an interview. "The subsidiaries, which would be eligible for this kind of route, would be essentially our SBI General and may be at some stage, SBI Payment Services, but as of now, we don't have any such plan," he said. "Maybe, we would like to scale them up a little more, and then we will think in terms of going to the capital market for monetising our holding in these companies. But not in the current financial year," he added. During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has
State-owned Bank of Maharashtra recorded the highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth. The Pune-headquartered lender has registered a 15.94 per cent rise in the total business (domestic) in FY24, followed by the country's largest lender State Bank of India (SBI) with 13.12 per cent growth, according to published financial numbers of the public sector banks (PSBs). However, SBI's total business (deposit and advances) was about 16.7 times higher at Rs 79,52,784 crore compared to Rs 4,74,411 crore of Bank of Maharashtra (BoM) in absolute terms. Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation, with a 15.66 per cent rise in FY24. It was followed by SBI (11.07 per cent), Bank of India (11.05 per cent) and Canara Bank (10.98 per cent). Out of 12 public sector banks, only these four lenders could
Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country's most valued PSU firm by market valuation on Wednesday. Shares of LIC climbed 3 per cent to reach its 52-week high of Rs 919.45 in intra-day trade on the BSE. However, later it pared the gains and ended 0.63 per cent lower at Rs 886.90. The stock of SBI fell by 1.67 per cent to Rs 626.15 apiece. The market capitalisation of LIC stood at Rs 5,60,964.05 crore, which is Rs 2,149.47 crore more than SBI's Rs 5,58,814.58 crore valuation. LIC stood at the ninth place in the ranking of top ten most valued firms. Reliance Industries is the country's most valued firm with a market valuation of Rs 18,42,160.54 crore followed by TCS (Rs 14,21,230.44 crore), HDFC Bank (Rs 11,66,888.98 crore), ICICI Bank (Rs 6,87,740.99 crore), Infosys (Rs 6,80,631.89 crore), Bharti Airtel (Rs 6,10,389.59 crore), Hindustan Unilever (Rs 6,02,388.21 crore), ITC (Rs 5,82,423.61 crore), LIC (Rs 5,60,964.05 crore) an
Capital expenditure by central public sector enterprises touched about 52 per cent of the Budget target at Rs 3.79 lakh crore in the first half of current fiscal, the finance ministry said on Wednesday. This is higher than the capex by CPSEs in the April-September period of last fiscal. In the first half of previous fiscal, the figure stood at Rs 2.85 lakh crore or 43 per cent of Budget estimates for 2022-23 fiscal. "Capital Expenditure #CAPEX targets by Central Public Sector Enterprises #CPSEs on track with 51.71% of target achieved till September 2023," the finance ministry said in a post on X. Against estimated expenditure of Rs 7.33 lakh crore for full 2023-24, Rs 3.79 lakh crore (approx.) achieved i.e. about 51.71 per cent as on 30th September, 2023, it said. The full year capex by CPSEs was estimated at Rs 6.62 lakh crore in 2022-23 fiscal.
Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Goa Shipyard Limited (GSL) for co-operation in addressing global market opportunities for supply of state-of-the-art products such as autonomous boats, and other systems / solutions based on Artificial Intelligence for Naval platforms. The pact was inked on the sidelines of the ongoing Aero India 2023, Asia's largest air show, at Air Force Station Yelahanka here. BEL CMD Bhanu Prakash Srivastava, and GSL CMD Brajesh Kumar Upadhyay exchanged the MoU documents, a BEL statement said.
State-owned engineering firm BHEL on Friday posted a 56.5 per cent rise in its consolidated net profit to Rs 42.28 crore in the December quarter mainly on the back of higher revenues. The consolidated net profit of the firm was Rs 27.02 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 5,353.94 crore in the October-December quarter from Rs 5,219.89 crore in the same period a year ago.