Oil and gas producer ONGC has overtaken Indian Oil Corporation (IOC) to regain the tag of India's most profitable Public Sector Undertaking (PSU). ONGC reported a 34% jump in its 2018-19 fiscal net profit to ₹26‎,716 crore compared to IOC's ₹17,274 crore net profit during the same period. In the previous two financial years, ONGC lost the tag to IOC.