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Indian Oil, ONGC, Coal best performers in FY17; BSNL, Air India, MTNL worst
Posted on 13th March 2018
Indian Oil, ONGC and Coal India have emerged as the most profitable PSUs for 2016-17, whereas BSNL, Air India and MTNL incurred the highest losses, according to a government survey tabled in Parliament today.

The Public Enterprises Survey 2016-17, which mapped the performance of central public sector units, showed that the top ten loss-making state-owned firms accounted for a whopping 83.82 per cent of the total losses made by 82 loss-making CPSEs during the year.

BSNL, Air India and MTNL incurred 55.66 per cent of the total losses suffered by the top ten loss-making CPSEs in 2016-17.

The top three performers -- Indian Oil Corporation Ltd, Oil and Natural Gas Corporation (ONGC) and Coal India Ltd -- contributed 19.69 per cent, 18.45 per cent and 14.94 per cent, respectively, to the total profit earned by the top ten profit making CPSEs during 2016-17.

Hindustan Petroleum Corporation and Mangalore Refinery and Petrochemicals Ltd have entered the coveted list of the top ten profit-making CPSEs, while Hindustan Fertiliser Corporation and Power Finance Corporation have moved out of this league.

The top ten profit-making companies accounted for 63.57 per cent of the total profit made by 174 profit making CPSEs during the year.

Hindustan Cables, BHEL and ONGC Videsh Limited (OVL), which had incurred losses in 2015-16, swung into profit in 2016-17, while Western Coalfields Ltd, STCL, Air India Engineering Services and Brahmaputra Crackers and Polymer Ltd entered into the top ten loss-making CPSEs.

The overall net profit of all 257 operating PSUs during 2016-17 stood at Rs 1,27,602 crore compared to Rs 1,14,239 crore during the previous year, showing a 11.7 per cent growth.

Related Companies: Indian Oil Corporation   Oil and Natural Gas Corporation Limited (ONGC)   Coal India Ltd   Bharat Sanchar Nigam Limited (BSNL)

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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

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