Summary:
On the bright side, SPSU profits came from Gujarat State Petronet Ltd (Rs 737.79 crore), Gujarat Mineral Development Corporation (Rs 445.98 crore) and Gujarat Gas Ltd (Rs 303.33 crore) among others. However, there was a net loss in 2016-17 and return on investment was thus not computed.Other bleeding SPSUs are Sardar Sarovar Narmada Nigam Ltd (Rs 973.50 crore loss), Gujarat State Road Transport Corporation (Rs 184.45 crore) and Gujarat State Financial Corporation (Rs. There are 77 SPUS in the state.With its Rs 17,061.20 crore loss, GSPC was the biggest contributor to the Rs 18,412 crore total losses of 14 SPSUS. On March 31, 2017, investment (capital and long-term loans) in 91 SPSUs was Rs 1,43,217.84 crore. The losses of these 14 SPSUs was five times the profits (Rs 3,647 crore) of 54 SPSUS.“The profit of Rs 1,633.12 crore earned in 2015-16 turned into aggregate losses of Rs 14,764.43 crore in 2016-17 due to exceptional losses incurred by GSPC,” the report noted.Total investment in SPSUs increased from Rs 1,02,689.21 crore in 2012-13 to Rs 1,49,499.29 crore in 2016-17..