Tuesday, 5 March 2013

ONGC, the Most Profitable Public Sector Firm of India

ONGC has successfully retained the pride of being the most profitable Public Sector Firm of India for yet another year.
ONGC, Most Profitable PSU
ONGC has successfully retained the pride of being the most profitable Public Sector Firm of India for yet another year. It topped the featured list of top ten most profit-making PSUs of the country for the year of 2011-12. It added another feather to its crown with the help of its glorious run into the path of profits.

Another state-run company BSNL has performed very badly in the fiscal year of 2011-12. In fact the telecom company was the worst performer of that fiscal. As per the government survey BSNL was the most loss-making PSU Company of India for 2011-12. BSNL has been in quite trouble for last few years, and now it is showing in the financial report and poor economic conditions of the said company.

In 211-12, India’s largest oil and gas producing company ONGC managed to earn a net profit of Rs 25,122 crore, which is quite an impressive number in deed. It’s good to see that the oil and gas companies are doing well in their respective businesses, as it will help to control the overall inflation of the country in a big way for sure.

But on the other scenario BSNL had not at all performed well. In fact it failed to give an average performance either. BSNL, which is a state-run public sector firm, suffered a huge loss of Rs 8,850 crore in the same fiscal period, which we are talking about. It eventually has replaced Air India as the most loss-making PSU of India.

The power company NTPC earned a well-deserved 2nd position as the most profitable PSUs in the list. Nearly one year ago, the power major state-run NTPC was also featured in the same second position of the survey, which was conducted for the year of 2010-11.

Coal India, which has the tag of the ‘World’s largest coal producer’, did really well in that period of time. As a matter of fact Coal India jumped to 3rd position in 2011-12, from the seventh position in the top ten lists of the previous survey.

Coal India eventually dragged the Indian Oil Corporation (IOC) down to the 7th position in the list of most profitable public sector firm for 2011-12 time periods. It has to be mentioned here that the IOC was at 3rd position.

State-run NMDC, which is the largest ore-producing company of the country, was at fourth, while the ‘Maharatna’ company BHEL was ranked five in that coveted list. Southern Eastern Coalfields Ltd (SECL) took the sixth position of the list. It was a proud moment for SECL, as at last it made an entry into the featured club of top 10 most profit-making public sector firms of India.

The eighth, ninth and tenth positions were taken by Mahanadi Coalfields Ltd, GAIL (India) Ltd and Steel Authority of India Ltd respectively.

These ten companies are really doing good businesses in their respective fields, and that’s why these are the most profitable PSUs, but some state-run companies are really suffering a lot, and making some huge amount of losses. Besides BSNL and the Indian carrier Air India, The names of some biggest loss-making public sector firms are, Hindustan Photo Films Manufacturing, Hindustan Cables, Air India Charters Ltd, MTNL and Fertilizer Corporation of India.

These companies need to pull up the socks, and bounce back as early as possible.

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