Overall profitability has increased
Thiruvananthapuram: The overall profitability of the public enterprises in the development and infrastructural agencies sector of the State has increased.
According to the latest report of the Bureau of Public Enterprises (BPE), which is for the year 2004-05, the profitability increased by 9.65 per cent. Seventeen enterprises have been included in this sector which accounted for 21.95 per cent (Rs.4,143.95 crore) of the total capital invested in the State enterprises and provided employment to 6,544 persons which was 5.88 per cent of the total employment in the public sector in the State.
The report said that nine out of the 17 enterprises registered profits amounting to Rs.71.51 crore during the year as compared to the total profit of Rs.65.04 crore in 2003-04. The total net profit for the sector during the year was Rs.62.62 crore as against Rs.57.11 crore during the year before.
The Kerala Industrial Infrastructure Development Corporation, which had incurred loss during the previous year, turned profitable during the report year. While the Kerala State Industrial Development Corporation, Kerala State Industrial Enterprises, Kerala State Financial Enterprises and Kerala Transport Development Finance Corporation earned increased profits, the Kerala Urban and Rural Development Finance Corporation, Tourist Resorts Kerala Ltd., Kerala Power Finance Corporation and the Roads and Bridges Development Corporation of Kerala registered decreased profits. The Kerala Tourism Development Corporation, Kerala Small Industries Development Corporation, Kerala State Film Development Corporation, Kerala State Warehousing Corporation and the Bakel Resorts Development Corporation incurred lesser losses when compared to the previous year.
The Land Development Corporation incurred increased loss and the Kerala Financial Corporation incurred loss as against profit during the previous year. The BPE also found that the audit of accounts was in arrears in 11 out of the 17 enterprises.