ONGC grabs top spot among biggest profit-making PSUs

ONGC grabs top spot among biggest profit-making PSUs State-owned oil & gas producer ONGC emerged as the No. 1 profit making PSU, while has retained the top position in the coveted list of 10 most profit-making PSUs, while telephone giant BSNL came out as the biggest loss-making PSU in 2011-12, a recently published government study revealed.

The released figures showed that BSNL was the biggest loss-making state-run company in 2011-12, according to a government survey. ONGC generated a net profit of Rs 25,122 crore in the financeial year of 2011-12.

On the other hand, BSNL replaced Air India as the biggest loss-making PSU by garnering losses of Rs 8,850 crore during the same period.

Among the top profit-making state-owned companies, power producer NTPC grabbed the second spot, while the world's leading coal producer Coal India Ltd jumped from seventh rank in 2010-11 to third rank in 2011-12.

Indian Oil Corporation (IOC) slipped from third position in 2010-11 to seventh position in 2011-12.

Iron-ore producer NMDC grabbed the fourth position, while BHEL ranked fifth, while Southern Eastern Coalfields Ltd, Mahanadi Coalfields Ltd, GAIL appeared at sixth, eight and ninth positions, respectively. Steel Authority of India Ltd (SAIL) emerged at the tenth positions on the list of top 10 profit-making PSUs.

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