State Bank of India (SBI) has emerged as India’s most profitable company during the April-June quarter of fiscal 2023-24 (Q1FY24), replacing Reliance Industries, according to data from Capitaline Databases, a digital database of 35,000 listed and unlisted companies in India.
The country’s largest largest lender reported a net profit of ₹18,736 crore during the first quarter of current fiscal, followed by the Mukesh Ambani-led conglomerate that scored a profit of ₹18,258 crore, according to the data.
Indian Oil Corporation Limited (IOCL) stood third in the list, and was followed by HDFC Bank and Tata Consultancy Services (TCS), respectively.
