ONGC tops PSU profit list; Air India leads worst performers

New Delhi, Feb 27 (PTI) ONGC has retained top position on
the coveted list of 10 profit-making PSUs, while Air India was
the biggest loss-making state firm on the list of worst
performers during the 2009-10 fiscal, says a Indian government
survey.
Oil and Natural Gas Corporation (ONGC), country's largest
oil and gas producer, earned a net profit of Rs 16,785 crore,
while Air India's losses mounted to Rs 5,614.29 crore.
Indian Oil Corporation, helped by decline in expenditure,
moved to the second rank among the top 10, pushing down power
major National Thermal Power Corporation (NTPC) to the third
position, said the Public Enterprises Survey.
In the previous survey, IOC was ranked eighth.
"Although its total income declined to Rs 2.8 lakh crore
in the last fiscal from 3.09 lakh crore in 2008-09, its net
profit increased to Rs 10,220.5 crore from Rs 2,949.55 crore
mainly due to reduction in its expenditure," it said.
Maharatna company Steel Authority of India (SAIL) was
fourth on the list of best performing Public Sector Units
(PSUs), while Bharat Heavy Electricals Ltd (BHEL) ranked
fifth. Coal India came down to sixth position, from fifth in
the earlier ranking.
NMDC and Gail took seventh and eighth positions,
respectively.
The Power Finance Corporation, made entry into the
coveted club at 10th position, while South Eastern Coalfields
was pushed out of the list.
Among the loss making PSUs, Air India was at the top.
Others firms making big losses included telecom majors
Mahanagar Telephone Nigam Limited (MTNL) and Bharat Sanchar
Nigam Ltd; Hindustan Photo Films Manufacturing, Fertiliser
Corporation of India and Hindustan Cables. PTI