With over Rs 1,600 cr loss BEVCO joins league of KSRTC, KSEB

Thiruvananthapuram: The Kerala State Beverages Corporation (BEVCO) posted a loss of Rs 1,608.17 crore in revenue during 2020-21, the Bureau of Public Enterprises has reported.

BEVCO, one of the major revenue sources of the State government, had ranked second in terms of profit during the year-ago period, but the slide in its revenue pulled it down to the third slot in the list of loss-making public sector units (PSUs) in Kerala.

The report by the Bureau of Public Enterprises, tabled in the Assembly, attributed the loss of revenue to COVID-19, which forced BEVCO to close its outlets. The Corporation had been posting increasing revenues annually till the epidemic broke out.

Incidentally, BEVCO reported a loss of Rs 1,608.17 crore after it had posted a profit of Rs 180 crore in the year-ago period. Its revenue from sales nosedived to Rs 2,527.69 crore from Rs 4,134.93 crore, the Bureau report revealed.

KSFE most profitable

Meanwhile, Kerala State Financial Enterprises (KSFE) retained its top position as the most profitable PSU. It reported a profit of Rs 146.41 crore. The Kerala State Road Transport Corporation (KSRTC) came last with a loss of Rs 1,976.03 crore during the assessment period.

The Bureau also reported that despite the number of profit-making units remaining the same (50), their cumulative profit slid to Rs 513.79 crore from Rs 883.7 crore. As many as 63 companies reported losses during 2020-21, one less than the previous year.

The PSUs together posted a loss of Rs 6,569.25 crore, up from 2019-20's Rs 2,621.99 crore. The year-on-year revenue from sales decreased 2.86 per cent to Rs 34,365.25 crore from Rs 35,376.40 crore, the Bureau report said.

Kerala Minerals and Metals Limited came second among the profit-making units with a profit of Rs 83.28 crore, while Kerala Feeds Limited claimed the third spot with a profit of Rs 36.07 crore.

The Kerala State Electricity Board List, which topped the list of loss-making units in 2019-20, ended second behind KSRTC with a loss of Rs 1,822.35 crore.

Top 5 profit-making PSUs

1.KSFE (Rs 146.41 crore)

2.Kerala Minerals and Metals (Rs 85.28)

3.Kerala Feeds (Rs 36.07 crore)

4.KSIDC (Rs 26.62 crore)

5.Kerala State Backward Classes Development Corporation (Rs 23.60 crore)

Top 5 loss-making PSUs

1.KSRTC (Rs 1,976.03 crore)

2.KSEB (Rs 1,822.35 crore)

3.Bevco (Rs 1,608.17 crore)

4.Kerala Water Authority (Rs 594.11 crore)

5.KSFDC (Rs 63.30 crore).