THIRUVANANTHAPURAM: The plantation Corporation of Kerala Ltd (PCOKL) has once again logged a loss of Rs3.55 crore for the financial year 2023-24 (FY24) on an operating income of Rs84.02 crore.
The company, which was incorporated in 1962 as a public secor undertaking (PSU), had reported a larger loss of Rs25.15 crore in 2022-23 (FY23) during which period it earned an operating income of Rs66.49 crore.
A PSU reporting loss is not a rare thing in Kerala where scores of government owned companies remain in red for years together, with some right from their incorporation itself. PCOKL has a loan outstanding of Rs50 crore as of end-FY24.
Loss again
Financial results of most of the public sector undertakings are not accessible to the public though these companies are technically owned by the public. businesssbenchmark.news has managed to get the FY24 operating income and the loss incurred by the company from a report published by Acuité Ratings & Research Ltd.
PCOKL, which is the largest plantation based public sector company in Kerala, was established more than 6 decades ago with a view to accelerating the agro-economic development in Kerala.
The corporation is mainly engaged in processing of centrifuged latex and crumb rubber. The company also owns various plantations such as for cashew, oil palm, cinnamon coconut, areca nuts, teak, pepper and other miscellaneous trees.
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