ONGC moves up 33 ranks in Fortune Global 500 list

Mumbai: Oil and Natural Gas Corporation (ONGC) has moved up 33 places to rank 369 in the latest edition of Fortune Global 500 list.

"After making a debut in the turnover-based annual Fortune Global club two years ago (with a rank of 459), ONGC has moved up steadily, thanks to its advancing topline," an ONGC release said.

ONGC reported annual revenue of $19.237 billion for the current assessment (2006), up 15.8 per cent from 2005. ONGC is 5th in the Indian Fortunate brigade of six companies, on revenues.

ONGC, with $3.929 billion in net profit (up 12.9 per cent), maintains its top rank in India on the profitability front, with comfortable margins. Overall, ONGC is ranked 121st in profits this year against 115th last year.

In assets, ONGC has been ranked 335 (with assets worth $25, 359.5 million, which is the third position among the six Indian corporations listed in the Fortune 500 list. It has been ranked 196 (a close second in India) in ''Stockholders'' Equity'', with a figure of $15,348.8 million.

With employee strength of 34,807 in 2006, ONGC has been placed at 366 under employees, fourth among Indian entries in the Fortune list.