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20 yrs on, SBI pips RIL as the most profitable firm
Business Standard
|August 08, 2023
Public-sector lender's quarterly net profit in Q1 at ₹18,537 crore ahead of RIL's quarterly net profit numbers
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries Ltd (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1).
India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of ₹66,860 crore during the trailing 12 months (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of ₹64,758 crore in the quarter.
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