The combined profit after tax (PAT) for Nifty50 companies in FY24 surged 27% to Rs 8.14 lakh crore in FY24 from Rs 6.39 lakh crore in the previous fiscal. The top 10 companies have a share of nearly 60% in combined profit for Nifty50 stocks.
The last financial year 2023-24 (FY24) has proven to be a splendid one for India Inc. The combined profit after tax (PAT) for Nifty50 companies in FY24 surged 27% to Rs 8.14 lakh crore in FY24 from Rs 6.39 lakh crore in the previous financial year (FY23). As many as 49 companies out of the 50-company pack have recorded profits, while only one has posted loss in the fiscal. However, the top 10 companies have a share of nearly 60% in combined profit for Nifty50 stocks. Here are the details of India’s top 10 most profitable companies in FY24 and how their stocks have performed in the one year duration.
Reliance Industries: Billionaire Mukesh Ambani-led Reliance Industries, with an annual PAT of Rs 78,633 crore, has emerged as India’s most profitable listed company in FY24. Its PAT has increased 7% from Rs. 73,646 in FY23. Reliance is also India’s most valuable company with the latest market capitalisation (m-cap) of Rs 20.71 lakh crore as onf June 27, 2024, while this stock has given a 23% return to investors in the in the one year period.
State Bank of India: India’s largest public sector lender SBI, with PAT of Rs 68,138 crore, is the second most profitable company. Its profit has jumped 20% from Rs. 56,558 crore in the previous year. The latest m-cap of SBI is Rs 7.53 lakh crore and the stock has gained 49% in the last 12 months.
HDFC Bank: This is at the third spot with its annual profit surging 42% to Rs 65,446 crore in FY24. This private sector lender has the latest m-cap of Rs 12.91 lakh crore, while the stock has given a 2% return in the 12-month period.
Oil & Natural Gas Corporation: This petroleum sector PSU has posted a 61% profit growth with PAT of Rs 54,705 in FY24. The stock has jumped 70% in the past 12 months and has an m-cap of Rs 3.37 lakh crore.
Tata Consultancy Services: The crown jewel of the Tata group, TCS is ranked fifth in this list of India’s most profitable companies. Its PAT has jumped 9% to Rs 46,099 crore in FY24. While this stock has given a 23% return in one year and the latest m-cap of Rs 14.23 lakh crore.