Delhi PSUs incur losses worth 645 crore in 2011-12: CAG report

Public Sector Undertakings (PSUs) run by Delhi government incurred a total loss of Rs 645.50 crore in 2011-12, a report by Comptroller and Auditor General (CAG) said today.
According to the report, during the year 2011-12, eight PSUs earned a profit of Rs 1772.40 crore, four PSUs incurred losses to the tune of Rs 2417.90 crore while four newly- incorporated during the year had not finalized their financial statements till September 30, 2012.
Thus, the PSUs incurred a total loss of Rs 645.50 crore during the financial year 2011-12, the report said.
The major contributors to losses were Delhi Transport Corporation (Rs 2335.13 crore) and Delhi Power Company Limited (Rs 82.64 crore) while the PSUs which made profit are Delhi Transco Limited (Rs 1005.33 crore), Indraprastha Power Generation Company Limited (Rs 397.14 crore), Pragati Power Corporation Limited (Rs 220.26 crore), Delhi State Industrial and Infrastructure Development Corporation Limited (Rs 123.52 crore) and Delhi Tourism and Transportation Development Corporation (Rs 20.86 crore).

The auditor said the losses of PSUs like Delhi Transport Corporation (DTC) and Delhi Power Company Limited (DPCL) are mainly attributable to deficiencies in planning, monitoring, implementation of projects and financial management.