<p>Under the impact of global economic downturn, profit making central public sector enterprises are expected to see an average dip of 15-20 per cent in their earnings in 2008-09, CPSEs’ body Scope chairman Arup Roy Choudhury has said.<br /><br />“The profit-making PSUs are likely to see their profit declining by 15-20 per cent in 2008-09 over the previous fiscal. But the performance would vary from sector to sector,” Choudhury, Chairman of Standing Conference on Public Enterprises, told PTI.<br /><br />Challenge of slowdown<br /><br />Though the number of profit-making CPSEs would not have gone up, the government-owned firms have faced the challenge of slowdown without slipping into the red, Choudhury said.<br /><br />During 2008-09, state-run companies like MMTC have posted a decline of 17 per cent in net profit compared to previous fiscal, while State Trading Corporation’s profit fell 38 per cent, National Railway Catering & Tourism’s 16 per cent and Bharat Electronics Ltd’s 2.6 per cent. Many other CPSEs are yet to announce their financial results for last fiscal.<br /><br />Riding on robust economic growth in the last four years the state-run firms have consistently put up good performance and the number of profit making CPSEs rose from 143 CPSEs in 2004-05 to 159 in 2007-08.</p>
<p>Under the impact of global economic downturn, profit making central public sector enterprises are expected to see an average dip of 15-20 per cent in their earnings in 2008-09, CPSEs’ body Scope chairman Arup Roy Choudhury has said.<br /><br />“The profit-making PSUs are likely to see their profit declining by 15-20 per cent in 2008-09 over the previous fiscal. But the performance would vary from sector to sector,” Choudhury, Chairman of Standing Conference on Public Enterprises, told PTI.<br /><br />Challenge of slowdown<br /><br />Though the number of profit-making CPSEs would not have gone up, the government-owned firms have faced the challenge of slowdown without slipping into the red, Choudhury said.<br /><br />During 2008-09, state-run companies like MMTC have posted a decline of 17 per cent in net profit compared to previous fiscal, while State Trading Corporation’s profit fell 38 per cent, National Railway Catering & Tourism’s 16 per cent and Bharat Electronics Ltd’s 2.6 per cent. Many other CPSEs are yet to announce their financial results for last fiscal.<br /><br />Riding on robust economic growth in the last four years the state-run firms have consistently put up good performance and the number of profit making CPSEs rose from 143 CPSEs in 2004-05 to 159 in 2007-08.</p>