IOC Tops Fortune India 500 List; RIL at Second Spot
Published: 10th December 2013 03:18 PM
Last Updated: 10th December 2013 03:20 PM
State-run Indian Oil Corp has emerged as the country's biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place, as per an annual list of Fortune 500 companies in India.
The top eight companies have retained their respective ranks from the previous year, Fortune India said.
This year's list of the country's 500 largest corporations, compiled by the global business magazine Fortune's Indian edition, shows that there are as many as seven energy companies in the top 10 list.
There are a total of six state-run companies in the top-ten positions, as against four from the private sector.
This year's list shows "while sales growth has slowed, there are signs of recovery in profit. However, interest cost continues to be spoilsport."
"The good news is that the data shows that Indian companies are maturing... They are not letting up their determination to win the battle for talent -- salaries and wages have actually grown, despite bad times," the magazine said.
Other companies in the list include Essar Oil (9th) and Coal India (10th) Bharti Airtel (12th), ICICI Bank (14th), NTPC (15th), Tata Consultancy Services (18th) and Infosys (27th).