IOC overtakes ONGC to become India’s most profitable PSU

Indian Oil Corporation has overtaken Oil and Natural Gas Corporation (ONGC) to become India’s most profitable state-owned company. IOC, which has for decades been India’s biggest company by turnover, posted a 70 per cent jump in net profit to Rs. 19,106.40 crore in the financial year ended March 31, 2017.

Mukesh Ambani led Reliance Industries retained the crown of being India’s most profitable private company for the third year in a row, posting a net Rs. 29,901 crore in financial year 2016-17. Tata Consultancy Services, India’s largest software services exporter, with a net profit of Rs. 26,357 crore was the second most profitable private company in the country.

    Static Takeaways for DENA Bank Exam-
    • Mr. B. Ashok is Chairman of Indian Oil Corporation Ltd.
    • Dinesh K. Sarraf is the Chairman & Managing Director of Oil and Natural Gas Corporation Ltd.
    • Natarajan Chandrasekaran is the Chairman of TCS
    Source- The Hindu Business Line


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