State discoms' losses at Rs 80,000 cr: ICRA

State-owned distribution companies could post cumulative losses of Rs 80,000 crore in 2011-12, said rating agency ICRA, in a report on Tuesday. This has increased 26 per cent since the last years, as the losses stood at Rs 63,500 crore in 2009-10. The losses, however, would be partially covered as the government subsidy to these discoms is expected to be Rs 43,000 crore. According to ICRA’s estimates, six states account for 70 per cent of the total losses. These are Uttar Pradesh, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab and Haryana. State discoms have been filling these losses through short to medium term borrowings from banks.