Indian Oil Corporation has emerged as India's most profitable state-owned company for the second consecutive year. Indian Oil posted a record profit of ₹21,346 crore in 2017-18, followed by ONGC, whose profit stood at ₹19,945 crore. Mukesh Ambani-led Reliance Industries is the most profitable company for the third straight year, posting highest ever profit of ₹36,075 crore.