Most profitable Public Sector Company

Most profitable PSU

Question: Which of the following became the most profitable Public Sector Company of India recently?
(a) NTPC
(b) GAIL
(c) ONGC
(d) IOC
Answer: (c)
Related facts:

  • Oil and Natural Gas Corporation (ONGC) overtook Indian Oil Corporation (IOC) to become the country’s most profitable public sector company.
  • It is India’s top oil and gas producer.
  • ONGC reported a 34 per cent jump in its 2018-19 fiscal net profit to 26,716 crore rupees while IOC registered a net profit of 17,274 crore rupees for the fiscal year ended 31st March, 2019.
  • With its refining margins under pressure due to falling oil prices, IOC had also lost the title of being India’s largest company by turnover tag to billionaire Mukesh Ambani-led Reliance Industries in FY19.
  • In 2017-18 fiscal, IOC had posted a record net profit of 21,346 crore rupees. That year ONGC had a net profit of 19,945 crore rupees.

Links:
http://www.newsonair.com/News?title=ONGC-topples-IOC-to-regain-most-profitable-public-sector-company&id=364278
https://www.businesstoday.in/top-story/ongc-topples-indian-oil-corp-to-regain-most-profitable-psu-tag/story/353074.html

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