27 Kerala PSUs reported profit: State Industries Department

Kochi | The number of profit-making public sector undertakings (PSUs) under the Kerala Industries Department has risen to 27, officials said on Monday.

The figures were presented in the half-yearly review meeting of PSUs held in the presence of Industries Minister P Rajeev here on Sunday.

As per a press release, in October, 27 institutions reported profit, while 25 were in profit during April–September.

Compared to the same period last year, 14 more PSUs have turned profitable.

According to the Industries department, seven PSUs have increased their profit margins.

Sales revenue rose by 9.07 per cent, with 32 PSUs recording higher turnover, the press release said.

“The total operating profit stood at Rs 27.30 crore, marking an increase of Rs 82.09 crore compared to last year. During the same period last year, only 11 PSUs were in profit. The number of institutions earning net income rose to 17 from 9 last year,” the press release said.

The total turnover of the PSUs increased to Rs 2,440.14 crore from Rs 2,299 crore in the previous year, the statement said.

Among the 48 PSUs, Chavara-based KMML (Kerala Minerals and Metals Ltd) recorded the highest operating profit of Rs 4548.64 lakh.

In October alone, it posted an operating profit of Rs 1461.24 lakh.

Keltron followed with an operating profit of Rs 1268.20 lakh, overcoming losses from last year, officials said.

Keltron ECL earned an operating profit of Rs 1184.59 lakh.

“The PSUs have set a national benchmark through their operational excellence. Keltron has emerged as one of the country's leading public sector firms in defence, aerospace, electronics, and AI-based technology,” the press release said.

27 Kerala PSUs reported profit: State Industries Department

Kerala Automobiles Limited entered the electric scooter market through a joint venture.

“In the last budget, Rs 42.50 crore was allocated to PSUs to settle statutory liabilities of employees. The review also noted that 32 PSUs have implemented safety audits,” the press release added.

The Industries Department, Principal Secretary APM Mohammed Hanish, Officer on Special Duty Annie Thomas, and the Managing Directors of various PSUs attended the meeting.