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Four PSUs, RIL in Fortune 500 list
By agencies
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Wednesday, 13 July 2005, 19:30 IST
NEW DELHI: Five companies including four PSUs Β IndianOil, Bharat Petroleum, Hindustan Petroleum and ONGC Β along with private petrochem major Reliance Industries (RIL) were listed among the Fortune 500 companies this year.
IndianOil was on top of the list among Indian corporates with a rank of 170.
The other four companies were far behind with Reliance ranking 417 followed by Bharat Petroleum (429), Hindustan Petroleum (436) and ONGC (454).
Last year, four Indian companies figured in the prestigious list of Fortune 500, a statement from the Fortune magazine published from Hong Kong said today.
The magazine informed that even though India has improved its position with five companies qualifying for the Fortune 500 list this year from four companies in the year 2004, it is still far behind its neighbor China which has 15 companies in the prestigious list.
Overall, it was companies based in the U.S. and other developed nations that dominated the list.
The top 10 companies of the world are U.S.-based retail chain giant Wal-Mart, BP (U.K.), Exxon Mobil (U.S.), Royal/Dutch Shell (U.K./Netherlands), General Motors (US), DaimlerChrysler (Germany), Toyota (Japan), Ford Motors (U.S.), General Electric (U.S.) and Total (France).
Fortune writer Janet Guyon stated that the Fortune 500 companies increased their revenue by 13 percent and profits by 27 percent last year. ΒIt was an especially good year for oil companies with prices over $ 50 a barrel for much of Β04,Β he adds.
Although Wal-Mart had the highest revenue of over $288 billion among all the companies, Exxon booked the highest profit of $25.33 billion.
Among Asian companies, Toyota had the highest profit of $10.9 billion dollar followed by Samsung ($9.42 billion) and Petronas ($9.36 billion).