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India Post now biggest loss-making PSU, loses Rs 15,000 crore in FY19

India Post reported net losses of Rs 15,000 crore in FY19, making it the largest loss making PSU, even more than BSNL and Air India. PSUs BSNL and Air India reported losses of Rs 8,000 crore and Rs 5,340 crore, respectively, in FY18. India Post is also burdened with high operating costs and compensation to employees. In FY19, the salary, allowances and pay costs for the India Post stood at Rs 16,620 crore, against revenues of Rs 18,000 crore.

Read More at Moneycontrol News date : 15 Apr 2019, Monday

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