Mukesh Ambani-led Reliance Industries retained the crown of being
India’s most profitable company for the third year in a row, posting
highest ever net profit of Rs 36,075 crore. Tata Consultancy Services,
India’s largest software services exporter, with a net profit of Rs
25,880 crore was the second most profitable company in the country.
ONGC was for long India’s most profitable company but lost the crown to private sector Reliance and TCS three years back. In fact, its profit was higher than the combined net profit of the three state-owned fuel retailers - IOC, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) but now it is behind IOC.
For 2017-18, HPCL last week reported its highest ever net profit of Rs 6,357 crore on a turnover of Rs 2.43 lakh crore. BPCL earlier this week reported a net profit of Rs 7,919 crore for the fiscal. The sustained profitability of the refining and marketing companies has led to some questioning the rationale of asking ONGC to subsidise fuel that IOC, BPCL and HPCL sell
ONGC was for long India’s most profitable company but lost the crown to private sector Reliance and TCS three years back. In fact, its profit was higher than the combined net profit of the three state-owned fuel retailers - IOC, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) but now it is behind IOC.
For 2017-18, HPCL last week reported its highest ever net profit of Rs 6,357 crore on a turnover of Rs 2.43 lakh crore. BPCL earlier this week reported a net profit of Rs 7,919 crore for the fiscal. The sustained profitability of the refining and marketing companies has led to some questioning the rationale of asking ONGC to subsidise fuel that IOC, BPCL and HPCL sell
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