7 SPSEs in red, Gridco has highest negative net worth of Rs 4,135 crore

BHUBANESWAR: Even as the profit earned by 24 State public sector enterprises (SPSEs) has increased to Rs 1,686.08 crore in 2019-20 from Rs 1,174.30 crore by 22 government companies in 2018-19, net worth of seven has been completely eroded. The negative net worth of Grid Corporation of Odisha Limited (Gridco), the bulk power supplier to the State is the largest. With a negative net worth of Rs 4,134.8 crore, the company incurred a loss of Rs 281 crore in 2019-20.