Railway public sector undertakings (PSUs) performed ‘extremely well’ in 2010-11, with all of them reporting significant rise in their profitability. The railway ministry has administrative control of 11 PSUs, including the Container Corporation of India Ltd (Concor), Rail India Technical and Economic Services (RITES), and Indian Railway Catering & Tourism Corporation (IRCTC).
Railway minister Dinesh Trivedi said, “All the 11 PSUs performed extremely well, with a healthy growth in total dividend paid by them. Various important contracts have been bagged by the PSUs in the neighbouring countries for construct-ions/rehabilitation of railway lines and for supply of rolling stocks. The dividend paid in 2010-11 amounted to Rs 429 crore, 31 per cent more than the previous financial year.”
RITES, the engineering, design and project consultancy organisation, more than doubled its net profit to Rs 244 crore in 2010-11, against Rs 112 crore in the previous year.
Ircon International, the mini-ratna construction company, reported a 32 per cent jump in net profit at Rs 240.5 crore. The Indian Railway Finance Corporation reported a net profit of Rs 485 crore. Up to March 2011, it had leased rolling stock assets of Rs 69,843 crore to the ministry.
Concor, which develops multi-modal transport and logistics support, made a net profit of Rs 67.4 crore, an 11 per cent increase over the previous year. RailTel Corporation of India reported a net profit of Rs 95.4 crore. IRCTC sold 96.9 million e-tickets worth Rs 8,007 crore in 2010-11, compared to 72 million tickets in the previous year. It earned a net profit of Rs 60.8 crore.
