BSNL out of top 10-profit making PSUs; ONGC is No1
Telecom giant BSNL has lost its place in the coveted list of top 10 profit-making central PSUs which is topped once again by Oil and Natural Gas Corporation.
New Delhi: Telecom giant BSNL has lost its
place in the coveted list of top 10 profit-making central PSUs
which is topped once again by Oil and Natural Gas Corporation.
Power producer NTPC moved up to the second place, pushing
down steel counterpart SAIL to third slot, according to the
Department of Public Enterprises Survey for 2008-09.
In the 2007-08 survey, BSNL was ranked 6th. However, a
steady fall in net profit and revenues in the face of delayed
expansion plans and fierce competition have brought its profit
to Rs 574 crore in 2008-09, moving it out of the coveted list.
In 2007-08, BSNL had posted a net profit of Rs 3,009
crore. The unlisted PSU suffered hugely due to its dwindling
Mineral major NMDC is fourth in the list, while Coal
India is ranked 5th. BHEL and GAIL are ranked 6th and 7th
respectively. IOC slipped to eighth position from its earlier
ranking of four as it is forced to sell fuel at below cost to
keep inflation under check.
Oil India Ltd (with profit of Rs 2,166 crore) and South
Eastern Coalfields (profit Rs 2,014 crore) have taken the 9th
and 10th ranks, respectively.
Rashtriya Ispat Nigam Ltd too does not find a mention in
the list. The other top ten loss making firms include NACIL,
Eastern Coalfields Ltd, Hindustan Photo Films Manufacturing Co
and Fertilizer Corp of India.