ONGC emerges top PSU in investment, net profit

Oil and Natural Gas Corporation (ONGC) was the top investor among PSUs besides being the number one profit making state-run firm in 2009-10.

Loss-making Bharat Sanchar Nigam (BSNL) is the second among the highest PSU investors, according to a government survey.

Investment in terms of gross block (assets) for ONGC stood at Rs 1.71 lakh crore in 2009-10 and its net profit was Rs 16,785 crore, Public Enterprises survey revealed.

In fiscal 2008-09, the Maharatna oil and gas producer had Rs 1.53 lakh crore as investment in gross block.

Gross block (GB) is the value of a company's fixed assets plus depreciation.

Telecom player BSNL's investment on the same lines was Rs 1.66 lakh crore, despite a huge loss of Rs 1,657 crore that the company suffered last fiscal.

Maharatna company NTPC was at third position in the list of best performing PSUs both in terms of investment and net profit. Its investments, expressed in GB, stood at Rs 98,954 crore and net profit at Rs 8,650 crore, respectively, in 2009-10.

The survey revealed that the share of ONGC, BSNL and NTPC was 38.69% in the total GB of all CPSEs, as on March 31, 2010.

Indian Oil Corporation and Power Grid Corporation ranked fourth and fifth, in this respect.

SAIL and Nuclear Power Corporation of India was at sixth and seventh ranks, respectively, while NHPC at the eighth position.

However, loss-making PSUs Air India and MTNL were at ninth and tenth position respectively.

Air India's losses mounted to Rs 5,614.29 crore in the last fiscal.

As on March 31, 2010, there were 249 CPSEs compared to 246 in 2008-09, according to the survey.