Express News Service
NEW DELHI: Three of the 16 major Public Sector Undertaking (PSUs) of the Indian Railways incurred losses in 2019-20.
Among them is one of the oldest PSUs — Bharat Wagon & Engineering Co Limited (BWEL) — which is being winded up, a CAG audit report tabled in Parliament said.
The other two loss-making PSUs are Dedicated Freight Corridor Corporation of India (DFCCI) and the Kolkata Metro Rail Corporation (KMRC).
While the KMRC incurred a loss of Rs 237 crore in 2019-20, the DFCCI’s losses amounted to Rs 91 crore and that of the BWEL Rs 1 crore.
The railway PSUs are involved in construction, financing, logistics support and services, consultancy, catering and hospitality, among others.
The PSUs engaged in financing registered a rise in profit from Rs 2,007 crore in 2017-18 to Rs 3,692 crore in 2019-20, while those involved in catering, tourism and hospitality saw their profits rise from Rs 219 crore in 2017-18 to Rs 529 crore in 2019-20.
Three out of 12 subsidiaries (Fresh and Healthy Enterprises Ltd, IRCON PB Tollway Ltd, IRCON Shivpuri Guna Tollway Ltd), two of seven Special Purpose Vehicles (Bharuch Dahej Railway Co Ltd, Krishnapatnam Railway Co Ltd) and one out of five Joint Ventures (Maharashtra Rail Infrastructure Development Ltd) also incurred losses in 2019-20.
