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CPSE net profits up 47% in FY24
Financial Express Hyderabad
|December 21, 2024
● Petroleum firms boost earnings; m-cap up 121%
AFTER a 15% decline in aggregate net profit in FY23, the Central Public Sector Enterprises (CPSEs) posted a robust 47% annual growth in net profit in FY24, thanks to a surge in profits of petroleum sector firms.
The operating CPSEs, totaling 272, reported an aggregate net profit of ₹3.22 lakh crore in FY24, compared with ₹2.18 lakh crore in FY23.
Oil and Natural Gas Corporation (ONGC) recorded the highest profit at ₹40,526 crore in FY24, marginally up on year. ONGC was closely followed by Indian Oil, which reported 3.8 times profit growth at ₹39,619 crore.
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