Top 5 most profitable companies in India; Reliance Industries leads with Rs 21,16,515.74 cr market capital

The financial year 2023-24 (FY24) has been a great success for India Inc. The aggregate profit after tax (PAT) for Nifty50 companies in FY24 increased by 27% to Rs 8.14 lakh crore from Rs 6.39 lakh crore in the previous financial year (FY23). In the fiscal year, 49 of the 50 companies made a profit, while just one posted a loss.

Here are the top 5 most profitable companies in India

Company Name Market Cap (Rs. crores)  Stock Price (Rs.)
Reliance Industries Ltd 21,16,515.74 3,130.80
State Bank Of India 7,57,521.06 848.95
HDFC Bank 12,81,968.61 1,683.80
Oil & Natural Gas Corporation 3,45,139.96 274.20
Tata Consultancy Services 14,13,496.34 3,904.15

1. Reliance Industries Ltd

Reliance Industries Ltd leads the list with a market capitalization of Rs. 21,16,515.74 crores and a stock price of Rs. 3,130.80.  The Indian company operates in retail, digital services, petrochemicals, renewable energy, hydrocarbon exploration and petroleum refining. Its sectors include Retail, Digital Services, Oil and Gas, and Oil to Chemicals (O2C). Digital Services provides a range of digital services, whereas Retail deals with consumer retail and related services.

2. State Bank Of India

State Bank of India, a major banking and financial services provider, has a market capitalization of Rs. 7,57,521.06 crores and a stock price of Rs. 848.95. The company, which is headquartered in India, provides a wide variety of banking and financial services to people, corporations and institutions globally. Its operations are spread across many segments, including Treasury, Corporate/Wholesale  Banking, Retail Banking, Insurance and other financial services that serve many different clientele.

3. HDFC Bank

With a 42% increase in yearly earnings to Rs 65,446 crore in FY24, this ranks third. HDFC Bank has a market capitalization of Rs. 12,81,968.61 crores and a stock price of Rs. 1,683.80. The company is a comprehensive financial services conglomerate that provides a wide range of banking, insurance and mutual fund services through its subsidiaries.

4. Oil & Natural Gas Corporation

In FY24, this petroleum sector PSU increased its profit by 61%, with a PAT of Rs 54,705. Oil & Natural Gas Corporation has a market capitalization of Rs. 3,45,139.96 crores and a stock price of Rs. 274.20The stock has risen 70% in the last 12 months. Its divisions include Marketing, Refining and Production and Exploration. In addition to downstream services, petrochemicals, power generation, LNG supply and other operations, it engages in exploration, development and production within India and internationally.

5. Tata Consultancy Services

Tata Consultancy Services (TCS), a key player in the IT services industry, has a market capitalization of Rs. 14,13,496.34 crores and a stock price of Rs. 3,904.15.  On this list of the most profitable companies in India, TCS, the jewel in the Tata group, comes in at number five. In FY24, their PAT increased by 9% to Rs 46,099 crore. The company, headquartered in India, provides IT services, consulting and business solutions in a variety of industries, such as banking, capital markets, consumer goods, communications, education, energy, healthcare, high technology, insurance, life sciences, manufacturing, public services, retail and travel.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.