Fortune favours IOC with top ranking again

State-run Indian Oil Corporation (IOC) retained top ranking in 2015 for the sixth consecutive year in the list of global business magazine Fortune 500's Indian firms, with a whopping $68.5 billion revenue.

The Mukesh Ambani-led Reliance Industries also held on its second ranking, with $57.96 billion revenue

Two other state-run oil marketing firms (Bharat Petroleum & Hindustan Petroleum), three Tata group firms (Tata Motors, Tata Steel & TCS), state-run ONGC, State Bank of India (SBI) and Hindalco Industries figure among 10 Indian firms in the Fortune 500's global list of 1,000 companies.

"The ranking is based on each firm's revenue, net operating income, profits, assets, net-worth and dividend," the magazine said here on Thursday.

With $40.5 billion, Tata Motors climbed the ranking list to third from fifth last year, followed by SBI at fourth with $38.98 billion, up from sixth in 2014.

Bharat Petroleum, however, slipped to sixth rank from third as its revenue declined to $36.4 billion, while Hindustan Petroleum was ranked sixth with $32.33 billion, ONGC at seventh with $25 billion, Tata Steel at eighth with $21.5 billion, Hindalco at ninth with $16.2 billion and TCS at 10 with $14.9 billion.

"Total revenues of Indian firms grew 2.7 per cent while their profits slipped 5.9 per cent over last year.

"Though overall scene does not seem promising, individual firms are sailing against the tide to deliver value to their customers and shareholders," the statement noted.

Other Indian firms figuring in the global list are Idea Cellular (47th rank), Asian Paints (85), TVS Motor Company (125), Godrej Consumer Products (157), Kwality (195), Aegis Logistics (271), Srei Infrastructure Finance (303), Transport Corporation of India (397) and Persistent Systems (447) across verticals.