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TANGEDCO, Transport Corporations incur losses in FY16-17:CAG

Press Trust of India  |  Chennai 

Generation and and eight transport corporations in the state together recorded heavy losses totalling Rs 8,836.21 crore for fiscal 16-17, a CAG report said today.

According to the report tabled in the Assembly, the state board, registered losses of Rs 5,786.82 crore while the eight transport corporations Rs 3,049.39 crore in 2016-17.

Of the 68 working PSUs, 39 public sector undertakings earned profit of Rs 931.08 crore while 25 PSUs incurred loss of Rs 9,366.31 crore.

The remaining neither reported profit nor loss, it said.

The state PSUs in total registered a turnover of Rs 1,10,850.43 crore as of March 2017.

On investments made by government, the report said 74 PSUs received investments of Rs 1,53,870.74 crore as on March 31, 2017.

Power sector accounted for 92.95 per cent of total investment made while service sector 3.20 per cent.

The contributed Rs 46,127.14 crore towards equity, loans and subsidies in 2016-17, it added.

Newsprint and Papers Ltd, and were the major contributors to the exchequer in terms of revenue for the year 2016-17.

Newsprint and clocked profit of Rs 257.53 crore, while Tamil Nadu and recorded Rs 129.74 crore in FY2016-17.

registered Rs 49.28 crore, IT Expressway Ltd clocked Rs 33.39 crore, Tamil Nadu Industrial Investment Corporation Ltd Rs 30.97 crore and Tamil Nadu Magnesite Ltd Rs 21.74 crore, it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 19:40 IST