- Dividend payouts remain strong
But the CPSES, which withstood the pandemic much better than the broader economy, largely held pace in the last financial year too. Of the ₹38,000-crore annual decline in aggregate CPSE net profits, almost all was attributable to the inability of OMCs to pass on the higher cost of crude oil to the retail consumers of auto fuels.
Also, there wasn't a commensurate annual decline in dividend payouts by the CPSES in FY23 (down just 8.7%) as the government continued to nudge them to reward it and other shareholders, as it strove to boost nondebt receipts and find resources for the elevated Budget capex (see chart).
This story is from the February 10, 2024 edition of Financial Express Mumbai.
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This story is from the February 10, 2024 edition of Financial Express Mumbai.
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