States » SouthPosted at: Mar 20 2025 11:20PM


Massive Rs 7,449.75 cr loss across Karnataka SPSEs: CAG Report

Bengaluru, Mar 19 (UNI) The Comptroller and Auditor General (CAG) of India’s latest report on Karnataka’s State Public Sector Enterprises (SPSEs) for the financial year ending March 2023 has revealed that 56 SPSEs incurred staggering losses amounting to Rs 7,449.75 crore during the financial year.
Additionally, 40 out of 60 SPSEs with accumulated losses saw complete erosion of their net worth, with their collective net worth plunging to ₹(-)23,297.91 crore against a paid-up equity of ₹10,695.05 crore, said the report which was revealed to the media on Thursday.
The findings underscore the dire financial state of several Karnataka government enterprises, raising concerns over their long-term sustainability.
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