Bhubaneswar: Seven state public sector enterprises (SPSEs) incurred a loss of Rs 794.98 crore during FY 2022–23, up from Rs 453.11 crore in FY 2021–22, the Comptroller and Auditor General of India (CAG) said Tuesday. The CAG audited the financial performance of the SPSEs for the financial year 2022-23 and mentioned its findings in a report, which was tabled in the Assembly Tuesday.
“Of the 29 SPSEs audited, seven incurred a loss of Rs 794.98 crore during the 2022-23. These seven SPSEs had incurred a loss of Rs 453.11 crore during 2021- 22,” the auditor said. Out of the total loss of Rs 794.98 crore, the loss of Rs 788.73 crore was mainly contributed by GRIDCO Limited (Rs 778.18 crore) and Read State Road Transport Corporation (Rs 10.55 crore), it said. The other loss-making SPSEs are: Read Rail Infrastructure Development Limited, Read Tourism Development Corporation Ltd, Kalinga Studios Limited, Read Sports Development and Promotion Company Ltd and GEDCOL SAIL Power Corporation Ltd, the report said.
The CAG has also found several loopholes in state PSU Read Mining Corporation (OMC). The OMC has 36 mining leases as of March 2025. While 18 are operative, the remaining 18 have been inoperative for the last several years. The audit found that OMC had paid a penalty of `3,761.88 crore for producing 29.47 million tonne during 2017-22 in excess of quantities permitted under environment and forest clearances.
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