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 CapitalineDatabases, a digital database of 35,000 listed and unlisted companies in India.
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.
The bank unions are participating in the strike to protest against the government’s plan to privatise public sector banks, as well as the Banking Laws Amendment Bill 2021.
SBI has issued a statement informing customers that banking services may be impacted on Mar 28, 29.
A joint forum of central trade unions has called for a nationwide strike on Monday and Tuesday to protest against Central government policies that affect workers. The banking sector will be joining the strike, the All India Bank Employees Association said on Facebook.
The call for a nationwide strike was taken after a meeting of the joint platform of central trade unions on March 22, 2022. After taking stock of preparations in various states, the unions announced a two-day all-India strike against “the anti-worker, anti-farmer, anti-people and anti-national policies” of the central government.
The bank unions are participating in the strike to protest against the government’s plan to privatise public sector banks, as well as the Banking Laws Amendment Bill 2021.
The State Bank of India has issued a statement informing customers that banking services may be impacted on March 28 and 29.
