The last five years have not been good for listed central public sectors undertakings (PSUs). For the first time since FY04, 38 PSUs, excluding oil marketing companies, are expected to report a combined net loss for the second consecutive year in FY19. Even in FY16, this set had made a loss.
These listed PSUs together reported net losses of Rs 16,279 crore during the first nine months of FY19, and analysts expect this trend to continue. For the entire PSU universe, the net profit stood at Rs 29,717 crore in the April-December 2018 period.
Public sector banks (PSBs) have been the biggest losers in the last five years, as they reported losses due to the Reserve Bank of India’s asset quality review, under which they had to report non-performing assets. Listed PSBs together reported a combined net loss of around Rs 31,600 crore during the April-December 2018 period.
