Kochi: Chavara-based Kerala Minerals and Metals Ltd (KMML) and Keltron have emerged as top performers among Kerala’s public sector undertakings (PSUs), recording the highest operating profits in the latest industry review.

KMML reported an operating profit of Rs 4,548.64 lakh, with Rs 1,461.24 lakh earned in October alone. Keltron, which had faced losses last year, posted an impressive operating profit of Rs 1,268.20 lakh, while Keltron ECL achieved Rs 1,184.59 lakh.

“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 press release stated.

Number of profit-making PSUs rises to 27

The Kerala Industries Department reported that 27 PSUs are now profit-making, compared to 25 during April–September. The data was presented during the half-yearly review meeting held on Sunday in Kochi, chaired by Industries Minister P Rajeev.

Compared with the same period last year, 14 more PSUs have turned profitable, with seven improving their profit margins.

Revenue and turnover see steady growth

Sales revenue rose by 9.07 per cent, with 32 PSUs recording higher turnover. The total operating profit stood at Rs 27.30 crore, up by Rs 82.09 crore from the previous year.

During the same period last year, only 11 PSUs had registered profits, while the number of institutions earning net income increased to 17 from 9.

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

Expansion and employee welfare initiatives

Kerala Automobiles Limited has entered the electric scooter market through a joint venture, expanding its industrial footprint.

“In the last budget, Rs 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 press release added.

Review meeting participants

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