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Power sector PSUs earn higher profits in Delhi

Power sector PSUs earn higher profits in Delhi

NEW DELHI: The power sector PSUs in the city have earned Rs 121 crore more in profit in 2017-18 compared to 2013-14, with Delhi Transco & Pragati Power Corporation Limited being the top profit-making companies, reveals a report by the comptroller and auditor general tabled in the assembly on Monday. According to the 2019 report, the profit earned by the public sector undertakings (PSUs) was Rs 879.7 crore in 2017-18 against Rs 759 crore in 2013-14. According to their latest finalised accounts, out of the five PSUs, four establishments have earned profit. The top profit-making companies were Delhi Transco (Rs 627.2 crore) and Pragati Power Corporation Limited (Rs 211.4 crore). The overall accumulated losses of the five PSUs were Rs 157.3 crore against a capital investment of Rs 7,506.8 crore. The net worth was eroded completely in Delhi Power Company Limited (- Rs 779.1 crore). The report also pointed out that during the past five years, the turnover of the five PSUs had recorded a compounded annual growth of 2.8 per cent and a 7 per cent (approx) compounded annual decline in debt. Follow and connect with us on Twitter , Facebook , Linkedin