With Rs 20,926 cr ONGC is top profit making PSU again, BSNL worst performer

ONGC CMD Sudhir Vasudevan

IT IS official now. Oil explorer ONGC is the country’s number one performer in the coveted list of 10 highest profit-making state-owned firms. The Maharatna company topped the list last year also. Telecom major BSNL was the biggest loss-making enterprise.

According to a government survey, the country's largest oil and gas producer, earned net profit...

of Rs 20,926 crore in 2012-13.

Beleaguered BSNL, who is incurring loss continuously, on the other hand, suffered losses of Rs 7,884 crore during the financial year.

Power major NTPC retained the slot of the second biggest profit-making PSU.

In a big surprise, Fertilizer Corporation of India jumped to the third spot among biggest profit-making PSUs, replacing Coal India, in 2012-13, according to the Public Enterprises Survey.

The world's largest coal producer, Coal India Limited (CIL) is ranked fourth, while power equipment maker BHEL is in fifth position.

Besides, NMDC was at 6th position, followed by Indian Oil Corporation, Power Finance Corporation, Power Grid Corporation of India and GAIL Ltd.

These profit making PSUs have given fat dividends to the government thereby helping it bridge the gap of fiscal deficit.  

After BSNL, the biggest loss making PSUs in 2012-13 were: MTNL, Air India, Chennai Petroleum Corporation Ltd, Hindustan Photo Films Manufacturing Co, Hindustan Cables, Mangalore Refinery & Petrochemicals, Bharat Petro Resources, Hindustan Fertilizer Corporation and Fertilizer and Chemicals (Travancore) Ltd.

Here is the top ten list:

ONGC

NTPC

Fertilizer Corporation of India

Coal India Limited

BHEL

NMDC

Indian Oil Corporation

Power Finance Corporation

Power Grid Corporation

GAIL