Bharat Sanchar Nigam ltd (BSNL) is the top loss making PSU in India. In the last three financial years, BSNL has posted a total loss of Rs 18,380 crore. In FY18 alone BSNL's losses increased by 82 per cent. BSNL serves its customers with a wide bouquet of telecom services namely Wireline, CDMA mobile, GSM mobile, Internet, Broadband, Carrier service, MPLS-VPN, VSAT, VoIP, IN Services, FTTH, etc. BSNL has 11.58 crore cellular connections and 1.17 crore landline connections as on April 2019. For some time now, BSNL is facing a financial crunch. It has started to impact its employees as the company has delayed salaries on two separate occasions.
Since FY16 Air India has incurred a total loss of Rs 13,196 crore. The government has tried to disinvest stake in Air India twice but failed. Now, talks are on about third attempt at Air India's disinvestment.
Mahanagar Telephone Nigam ltd (MTNL) is another PSU that is consistently making losses. In the last three fiscals, MTNL has made a combined loss of Rs 8,674.7 crore.
Incorporated in 1960, Hindustan Photo Films Manufacturing Company (HPF) is a Government of India undertaking. In the last three fiscals, HPF has made a loss of Rs 8,287 crore. Due to the product/technology obsolescence in the wake of rapid development of digital technologies, the company became unviable and was declared sick by Board for Industrial and Financial Reconstruction (BIFR) in 1996. In 2014, the Government of India /CCEA approved the proposal to offer VRS at 2007 notional pay scale to all the remaining employees of the Company and to take further steps for the closure of the company.
Western Coalfields Limited (WCL) is one of the eight Subsidiary Companies of Coal India Limited (CIL) which is under administrative control of Ministry of Coal. WCL was conferred "Miniratna" status on 15th March'2007. But in the last two fiscals the company has made a loss of Rs 3,905 crores.
Bharat Coking Coal Ltd (BCCL) was incorporated in January, 1972 to operate coking coal mines operating in the Jharia & Raniganj coalfields, taken over by the government in 1971 to ensure planned development of the scarce coking coal resources in the country.. BCCL has not been performing well. It has incurred a loss of Rs 2,388 crore in the last two fiscals.
Eastern Coal Fields (ECL) was founded in 1975 after nationalisation of coal mines in India. It operates coalmines in Jharkhand and West Bengal. It inherited all the private sector coal mines of the Raniganj coalfield. Out of the last three fiscals, ECL has made loss only once. In FY18, ECL incurred a loss of Rs 1,466 crore.
Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant is a Navaratna PSE under the Ministry of Steel. RINL has been making consistent losses for the last three fiscals. It has incurred a combined loss of Rs 4,762.7 crore.
PSU,India Infrastructure Finance Company (IIFCL) is a wholly-owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects. The company has made loss only in the preceding fiscal. In financial year 2017-18, IIFCL had made a loss of Rs 1,027 crore.
Established in 1952, Hindustan Cables Limited (HCL), a public-sector undertaking, has grown from a single-unit, single-product entity to a multi-unit multi-product company. But the fortunes of the company have turned. The company has made losses in all three preceding fiscals. Hindustan Cables have made a combined loss of Rs 2,921.8 crore.