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

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 (File Photo)(REUTERS)

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.

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.

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.

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