State-run firms engaging in competition with domestic, foreign cos

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New Delhi, Mar 20 (UNI) Contributing 31 per cent to the country's GDP, the state-run firms have shown resilience in absorbing the impact of economic reforms and are engaging in competition with the domestic private sector and foreign companies.

According to a study conducted by Dun and Bradstreet (D&B), the total income of 123 companies profiled in 'India's Top PSUs 2008' stood at Rs 13,03,800 crore, having grown at 15.3 per cent year-on-year for FY07.

Further, the y-o-y growth in aggregate net profit for these companies stood at 25.6 per cent with an aggregate net worth of Rs 6,53,700 crore.

''Public sector enterprises have shown admirable resilience in absorbing the impact of economic reforms,'' D&B President and CEO Manoj Vaish told reporters here.

The public sector in the country is engaging in competition with the domestic private sector and with foreign companies, he added.

The Oil and Gas sector accounted for a major chunk of the aggregate total income at 43 per cent followed by banking and financial services and insurance at 15 per cent each.

Port services emerged as the most profitable sectors, with net profit margins of 36.4 per cent, the study said.

UNI MP SR HT2132

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