Indian Oil Corp retains top slot in Fortune 500 India list

State-run Indian Oil Corp continues to top the list of Indian companies in the Fortune 500 list even as US multinational Exxon Mobil tops the list of the world's biggest companies.

IOC, with revenues of Rs4,20,287 crore, is biggest Indian company in terms of revenue, followed by Reliance Industries (revenue of Rs3,67,539 crore) and BPCL (Rs2,14,866 crore) in the Fortune 500 list of Indian companies for 2012.

The three firms have retained their last year's respective ranks, Fortune India said.

Hindustan Petroleum is fourth with annual revenue of Rs1,87,693 crore and State Bank of India fifth with Rs1,77,033 crore revenue.

This year's list of the country's 500 largest corporations, compiled by the business magazine Fortune's Indian edition, features 55 new entities.

"The rankings take note of the downturn and show that there is little to cheer, with profits decreasing despite increased revenue," Fortune India said.