SBI is India's most profitable company, Reliance Industries second | Check list - Hindustan Times

SBI is India's most profitable company, Reliance Industries second | Check list

By, New Delhi
Aug 11, 2023 01:02 AM IST

In the first quarter (Q1) of the ongoing financial year (FY) 2023-24, SBI's net profit stood at ₹18,736 crore, and Reliance's, at ₹18,258 crore.

State Bank of India (SBI) has emerged as the most profitable company in the first quarter (Q1) of the ongoing financial year (FY) 2023-24.

State Bank of India (File Photo)(REUTERS)
State Bank of India (File Photo)(REUTERS)

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.

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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, and was followed by HDFC Bank and Tata Consultancy Services (TCS), respectively.

ICICI Bank, meanwhile, was marginally behind TCS, and came sixth. Bharat Petroleum Corporation Limited (BPCL) and Adani Power placed seventh and eighth, respectively. The list was rounded off by Coal India at ninth, and Hindustan Petroleum Corporation Limited (HPCL) in the tenth spot.

PositionCompanyNet profit for Q1 FY24 
1.State Bank of India 18,736 crore
2.Reliance Industries Limited 18,258 crore
3.Indian Oil Corporation Limited 14,735 crore
4.HDFC Bank 12,403 crore
5. Tata Consultancy Services 11,120 crore
6.ICICI Bank  11,015 crore
7.Bharat Petroleum Corporation Limited 10,644 crore
8.Adani Power 8759 crore
9.Coal India 7941 crore
10.Hindustan Petroleum Corporation Limited 6766 crore

State Bank of India (SBI)

A public sector institution, the State Bank of India is the 48th largest bank in the world by total assets. Headquartered in Mumbai, SBI is India's largest bank due to its 23% market share by assets, and one-fourth share of the total loan and deposits market.

Serviced by nearly 250,000 people, it is also the fifth-largest employment provider in the country.

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