27 Kerala PSUs post profits; turnover rises to Rs 2,440 crore

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 at the half-yearly review meeting of PSUs held in the presence of Industries Minister P Rajeev on Sunday.

According to a press release, 27 institutions reported profits in October, up from 25 during April–September. Compared to the same period last year, 14 more PSUs have turned profitable.

Seven PSUs have also increased their profit margins, while the overall sales revenue rose by 9.07 per cent, with 32 PSUs recording higher turnover, the department 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 release stated.

The total turnover of the PSUs increased to Rs 2,440.14 crore, up from Rs 2,299 crore a year earlier.

Among the 48 PSUs reviewed, Chavara-based Kerala Minerals and Metals Ltd (KMML) recorded the highest operating profit at Rs 4,548.64 lakh. In October alone, it reported an operating profit of Rs 1,461.24 lakh.

Keltron followed with an operating profit of Rs 1,268.20 lakh, reversing losses from the previous year, while Keltron ECL earned Rs 1,184.59 lakh in operating profit.

“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 release said.

The statement also noted that Kerala Automobiles Limited has entered the electric scooter market through a joint venture.

“In the last budget, ₹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 release added.

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