The Hindu Business Line : Kerala PSUs perform better

On a high
Profit-making cos numbered 22 (12 last year).
Total turnover at Rs 1,563 cr (Rs 1,468 cr).
Kerala State Industrial Development Corp logged highest profit.
10 enterprises move from profit to loss.

Thiruvananthapuram April 26 The State-owned public sector enterprises under the Industries Department in Kerala have put up an improved performance in 2006-07 in terms of turnover and net profit.

The companies recorded a combined net profit of Rs 92 crore as against a loss of Rs 63 crore in the previous year. The total turnover also went up to Rs 1,563 crore from Rs 1,468 crore in 2005-06.

Out of a total of 67 enterprises under the department, 42 were covered under the preliminary review conducted this month, the rest either having been closed or lying non-operational for various reasons.

The number of profit-making companies during the year was 22 and they reported a combined profit of Rs 130 crore. On the other hand, only 12 companies made to the list in the previous year with a total profit of Rs 62 crore.

Revenue profile

The Kerala State Industrial Development Corporation logged the highest profit of Rs 41.96 crore, which was almost double the figure of Rs 21.88 crore in 2005-06. It was followed by Malabar Cements Ltd with a profit of Rs 24.76 crore, marking a quantum jump from Rs 5.40 crore in the previous year.

The other companies in the profit-making list included Kerala Minerals and Metals Ltd (Rs 20.65 crore), Kerala State Electronics Development Corporation (Rs 12 crore), Transformers and Electricals Kerala Ltd (Rs 9.13 crore), Kerala State Industrial Enterprises (Rs 4.87 crore), Steel and Industrial Forgings Ltd (Rs 3.50 crore), and Travancore Cochin Chemicals (Rs 2.93 crore).

Loss to profit

As many as 10 enterprises, which incurred losses in 2005-06, made it to the profit-making category during the year under review. These included Keltron, United Electricals, Kerala Electrical and Allied Engineering Company, Kerala Ceramics Ltd and Kerala State Textiles Corporation Ltd.

The officials said that 10 more companies were expected to make profits in the current year. The combined net profit of the PSUs was also anticipated to be in the region of Rs 133 crore, marking an increase of more than 40 per cent over 2006-07.