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45 PSUs in Kerala clocked profit in 2012-13: CAG report

Press Trust of India  |  Thiruvananthapuram 

As many as 45 public sector undertakings in have earned profit in 2012-13, according to a report of the Comptroller and Auditor General of on public sector undertakings for last fiscal.

Of the 78 PSUs which had finalised their accounts during 2012-13, 45 units earned a total profit of Rs 666.86 crore and 31 PSUs incurred loss of Rs 607.34 crore, said the report, tabled in the today.

State Beverages Corporation Ltd, Financial Corporation, The Kerala Minerals and Metals Ltd and Malabar Cements Ltd were some of the major profit making PSUs.

The working PSUs registered a turnover of Rs 18,486.21 crore and this was equal to 5.09 per cent of State indicating the important role played by state PSUs in the economy, the report said.

The PSUs had accumulated profit of Rs.289.81 crore as per their latest finalised accounts, the report added.

has incurred an operational loss of Rs.3,758.17 crores for the year, it said.

The Revenue sector report said the audit detected under assessment of tax and other irregularities involving Rs 833.26 crore in 1,920 cases in commercial taxes.

Talking to reporters, Accountant General (Economic and Revenue Sector Audit), Biju Jacob said had more keeness been shown in commercial tax collection, the aggregate would have been higher.

First Published: Tue, June 10 2014. 19:35 IST