Aggregate profit of top 10 companies up 55 p.c.

NEW DELHI, JULY 22. Despite industrial slowdown, aggregate profit of top 10 private companies shot up by 55.5 per cent to Rs. 9,914 crores mainly due to Rs. 1,464 crores netted by Reliance Petroleum in its debut year and impressive performances by IT majors Wipro, Infosys and Satyam Computers.

Reliance Industries retained its lead position with Rs. 2,645.62 crores net profit in 2000-01, which was 10 per cent higher than Rs. 2,403.25 crores in the previous year, according to latest available data.

Although Reliance Petroleum outsmarted Reliance in terms of sales, its net profit was almost half that of the flagship company. RPL is now second in terms of net profit after outpacing FMCG major Hindustan Lever. HLL slipped to third position despite an impressive 22 per cent growth in net profit at Rs. 1,310 crores during last fiscal ending December 2000.

The cumulative profit of RIL, RPL and HLL amounted to Rs. 5,419 crores or nearly 55 per cent of the aggregate Rs. 9,914 crores posted by top 10 companies in 2000-01. The total profit of top companies, excluding RPL, was Rs. 6,374 crores in 1999-2000. Apart from RIL, RPL and HLL, tobacco major ITC was only other company to post over Rs. 1,000 crores profit last fiscal.

AV Birla's Hindalco retained its fifth position with Rs. 678 crores profit which was 11 per cent higher than previous year's Rs. 612 crores.

However, Tata flagship Tisco's rank slid to eighth from the previous sixth position, despite 31 per cent jump in net profit at Rs. 553.44 crores in the fiscal that witnessed lower industrial growth.

Many old economy majors including Bajaj Auto, Mahindra & Mahindra, Larsen & Toubro and Ranbaxy did not figure in the top- 10 list while new economy icons Wipro and Satyam Computers entered the big league after posting astronomical growth in net profit.

Wipro sped past Infosys and occupied the sixth position with a net profit of Rs. 668 crores in 2000-01, which is 169 per cent higher than Rs. 248 crores in 1999-2000.

Infosys was a shed behind netting 114 per cent higher profit of Rs. 629 crores while Satyam Computers netted Rs. 486 crores, which was 274 per cent higher than previous fiscal's Rs. 130 crores. The three technology companies posted over 100 per cent growth in net profits despite the us slowdown.

The only company from financial sector that figured among top 10 list was HDFC, whose net profit grew by 18 per cent to Rs. 474 crores in 2000-01 from Rs. 402 crores in previous year. Buoyancy in the housing sector helped the company to post impressive growth in profits.

- PTI

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