ONGC Tops PSU Profit List, Air India Leads Worst Performers
ONGC has retained the top spot on the list of 10 profit-making PSUs, with a net profit of Rs 16,785 crore. Meanwhile, Air India led the list of worst performers, incurring massive losses of Rs 5,614.29 crore. The Public Enterprises Survey revealed that Indian Oil Corporation moved to the second rank, while power major NTPC dropped to third position.
Key Takeaways:
- ONGC retained the top spot on the list of 10 profit-making PSUs with a net profit of Rs 16,785 crore.
- Air India led the list of worst performers, incurring massive losses of Rs 5,614.29 crore.
- Indian Oil Corporation moved up to the second rank, while NTPC dropped to third position.
- Maharatna company SAIL was ranked fourth, while BHEL ranked fifth.
- Coal India moved down to sixth position, from fifth in the earlier ranking.
- NMDC and Gail took seventh and eighth positions, respectively.
- Power Finance Corporation made its entry into the list at 10th position, pushing South Eastern Coalfields out of the club.
- Air India was followed by telecom majors MTNL, BSNL, Hindustan Photo Films Manufacturing, Fertiliser Corporation of India, and Hindustan Cables as the worst performers.
- Indian Oil Corporation's net profit increased to Rs 10,220.5 crore due to a decline in expenditure.
- SAIL's net profit increased from Rs 2,421.73 crore in 2008-09 to Rs 5,344.47 crore in 2009-10.
Statistics:
- ONGC's net profit: Rs 16,785 crore
- Air India's losses: Rs 5,614.29 crore
- Indian Oil Corporation's net profit for 2009-10: Rs 10,220.5 crore
- SAIL's net profit for 2008-09: Rs 2,421.73 crore
- SAIL's net profit for 2009-10: Rs 5,344.47 crore
Sources:
- PTI (Public Enterprises Survey) - February 27, 2011