The reason govt companies make profit is that they have huge monopolies and the government foots the bill for the subsidies in oil, but it does not do it for private oil companies.
Companies like LIC have been allowed to create a monopolistic market for decades, in which they spread their tentacles far and wide. that is why they are turning in profits. all private players were debarred earlier, thus killing competition. the result is that in spite of losuy services, these companies rake in profits.
markets in india are totally third rate, there is no compateition or quality of service worth the name.
many other PSUs have been kept alive on public money to save jobs. SAIL was kept alive due to populist reasons when it was turning losses for decades. no private company would be afforded such facility.
I would appreciate a gov company which can run along with private players in free competition, which incuded some high technology rather than these low tech commodities, and then rake profits. but there are none. look at indian airlines, sindri fertilizers and many others which are long dead.
