New Delhi: Continuing on high growth path, corporate India posted over Rs19,000 billion of total income in fiscal 2007, reflecting strong fundamentals and positive outlook for the economy.
As many as four state-run oil firms have emerged among the top five companies in the country in terms of total income for the period. Reliance Industries is the sole representative of the private sector among the first five.
The aggregate total income of all the Top 500 companies has grown 28.4% to Rs19,335 billion in FY07 as compared to the previous fiscal, a report by leading global business information provider Dun & Bradstreet said.
State-run Indian Oil Corporation is at the top with a total income of Rs21,63,97.85 crore, which grew 22.5%, followed by Reliance Industries with Rs1,12,171 crore.
The other state-run firms in the top five include - Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd and Oil and Natural Gas Corporation reporting Rs98,293.4 crore, Rs 89,725.7 crore and Rs 60,870.61 crore total incomes respectivelyl.
“Reflecting the growth opportunity inherent in the Indian economy and the ability of India Inc to capitalise on that, we saw over 20% new companies make it to the top 500 list this year. These 103 new companies that debuted on the list witnessed a 58% increase in their cumulative total income,” said Kaushal Sampat, chief operating officer, Dun & Bradstreet (India)