State Bank of India (SBI) has emerged as the most profitable company in the country in the first quarter (Q1) of the current financial year (FY) 2023-24.
The country’s largest lender secured the top spot ahead of Mukesh Ambani’s Reliance Limited (RIL), reported HT’s sister publication Mint citing data from Capitaline Databases, a digital database of 35,000 listed and unlisted companies in India.
Read More: NCLT approves merger of Zee Entertainment with Sony India; ZEEL shares rally 18%
Most profitable companies in Q1 FY24
SBI’s net profit in the June quarter of FY24 stood at ₹18,736 crore, marginally ahead of RIL’s ₹18,258 crore. Indian Oil Corporation Limited (IOCL) stood third, as it recorded a net gain of ₹14,735 crore during this period, and was followed by HDFC Bank and Tata Consultancy Services (TCS), at ₹12,403 crore and ₹11,120 crore, respectively.
Read More: Godrej Consumer Products to Invest Rs 515 Crore in Tamil Nadu
At ₹11,015 crore, meanwhile, ICICI Bank was marginally behind TCS, and came sixth. Bharat Petroleum Corporation Limited (BPCL) and Adani Power made ₹10,644 crore and ₹8759 crore respectively, placing them seventh and eighth. The list was rounded off by Coal India ( ₹7941 crore) at ninth, and Hindustan Petroleum Corporation Limited (HPCL), which made ₹6766 crore as its consolidated profit.
