Added on : 2019-06-02 21:34:44
ONGC, India's top oil and gas producer, has toppled Indian Oil Corp (IOC) to regain the crown of being the country's most profitable public sector company. According to earnings statements of the listed companies, Oil and Natural Gas Corp (ONGC) reported a 34 percent jump in its 2018-19 fiscal net profit to Rs 26,716 crore. In comparison, IOC registered a net profit of Rs 17,274 crore for the fiscal year ended March 31, 2019.
IOC had in the previous 2017-18 fiscal posted a record net profit of Rs 21,346 crore. That year ONGC had a net profit of Rs 19,945 crore.