54 government companies of the country paid tax of one lakh crore on profit of 3.40 lakh crore

Out of 54 government listed companies, 51 companies have made huge profits. While there have been 3 companies which remained in loss. The special thing is that SBI and LIC remained in the country in terms of earning the maximum profit and tax.

The season of quarterly results has come to an end. All the government and private companies of the country have worked to please the stock market by releasing their quarterly results. According to the data of Ace Equity, out of 54 government listed companies, 51 companies have made huge profits. While there have been 3 companies which remained in loss. The special thing is that SBI and LIC remained in the country in terms of earning the maximum profit and tax. Let us also try to explain to you from the data what has been said in the report of Ace's report.

10 government companies of the country got the highest profit

1. SBI is the country's largest lender with a net profit of Rs 55,648 crore. While the lender has also paid tax of Rs 18,840 crore in this financial year.

2. Life Insurance Corporation of India has proved to be the second most profitable PSU. In FY2023, the net profit of India's largest insurer increased by 773 percent to Rs 35,997 crore, which was Rs 4,125 crore in FY22. LIC has also paid tax of Rs 5,466 crore in the ended financial year.

3. Oil and Natural Gas Corporation i.e. ONGC stood at the third position. Net profit of Petro Giants has dropped. In the financial year 2022, where the company's profit was Rs 45,522 crore, which came down to Rs 35,440 crore in the financial year 2023. By the way, the company also paid tax of Rs 10,273 crore in the entire financial year.

4. Coal India is at the fourth position with a net profit of Rs 28,165 crore. The net profit of the company saw an increase of 62 per cent as compared to the profit of Rs 17,358 crore for the financial year 2022. The company also paid tax of Rs 9,876 crore in the last financial year.

5. After this comes the number of NTPC, whose net profit increased by 1.4 percent to Rs 16,912 crore from Rs 16,676 crore in the last financial year. NTPC paid tax of Rs 6,796 crore in FY23.

6. In the financial year 2023, the net profit of Power Finance Corporation increased by 13 percent to Rs 15,889 crore.

7.Power Grid Corporation of India has registered a net profit of Rs 15,417 crore in FY2023. By the way, it is 8 percent less than in the financial year 2022.

8. Bank of Baroda is at the 8th position with a net profit of Rs 14,905 crore. Compared to the financial year 2022, there has been an increase of 90 percent.

9. Canara Bank is at the 9th position with a net profit of Rs 11,255 crore. Compared to the financial year 2022, there has been an increase of 84 percent.

10. The net profit of REC Limited stood at Rs 11,167 crore and it saw a growth of 11 per cent as compared to FY 2022.

54 companies paid tax of more than Rs 1 lakh crore

The 54 stocks comprising the BSE PSU index reported net profit of Rs 3.40 lakh crore in FY2023, up 10 per cent from Rs 3.09 lakh crore in FY22. These government companies have paid tax of Rs 1.01 lakh crore in the last financial year. Whereas in the financial year 2022, Rs 93,749 crore was seen. This means that in the financial year 2023, government companies have paid 8 percent more tax.