The Hindu : Other States / Rajasthan News : Some PSUs make profit, some loss

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Monday, Jul 19, 2004

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Other States - Rajasthan

Some PSUs make profit, some loss

By Our Special Correspondent

JAIPUR, JULY 18. Nine of a total of 27 Public Sector Undertakings (PSUs) in Rajasthan earned profit during the year 2002-03. The PSUs, seven Government companies and two statutory corporations, made an aggregate profit of Rs.59.81 crores and declared dividends of Rs.5.7 crores.

Against this, five PSUs -- four Government companies and one statutory corporation -- in Rajasthan incurred an aggregate loss of Rs.76.18 crores. One of them, the Rajasthan State Handloom Corporation showed an accumulated loss of Rs.31.65 crores while its paid up capital was only Rs.6.15 crores, the report of the Comptroller and Auditor General of India for the year ended March 31, 2003 said. The report was tabled in the Rajasthan Assembly last week.

The five power sector companies -- Rajasthan Rajya Vidyut Prasaran Nigam Limited, Rajasthan Rajya Vidyut Utpadan Nigam Limited and the three distribution companies -- incorporated in 2000-01 have not shown any profit/loss in the accounts finalized for 2002-03.

One of the corporations, Rajasthan State Road Transport Corporation, incurred a loss of Rs.62.91 crores. RSRTC's accumulated loss of Rs.260.94 crores exceeded its paid up capital of Rs.107.95 crores. The Rajasthan Finance Corporation too showed an accumulated loss of Rs.73.28 crores against a paid up capital of Rs.67.52 crores though it earned a profit during the year 2002-03.

Among the profit-making companies, the Rajasthan State Warehousing Corporation declared a dividend of Rs.1.56 crores.

The budgetary support disbursed to the working PSUs -- there are eight non-working PSUs in the State -- increased from Rs.342.65 crores in 2001-02 to Rs.910.16 crores in 2002-03. The State Government guaranteed loans aggregating Rs.2,840.49 crores in respect of eight working companies and one working statutory corporation during 2002-03.

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