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RIL To Kotak Bank - Here Are India's 10 Most Profitable Companies Of FY23

There were three new entries in the league of India's top 10 companies by profit even as there was no change at the top in FY23.

Reliance Industries remained the most profitable company for the ninth straight year, while State Bank of India jumped from the sixth position last year to the second with record profit.

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1. Reliance Industries

Mukesh Ambani's conglomerate is India's most profitable company for nine consecutive years. The oil-to-telecom conglomerate reported a profit of Rs 66,702 crore.

Photo Credit: (Photographer: Adeel Halim/Bloomberg)

2. State Bank Of India

SBI, the largest Indian bank jumped six spots to claim second position this year. It reported a net profit of Rs 55,648 crore.

Photo Credit: Vijay Sartape/BQ Prime

3. HDFC Bank

India's leading private lender leaped two places from the fifth-most profitable company in fiscal 2022 to the third position in FY23. Net profit at Rs 45,997 crore, up 20.8% YoY.

Photo Credit: Santosh Verma/Bloomberg

4. Tata Consultancy Services

TCS is the worlds' most valuable IT service brand and India's second-largest company by market cap. It recorded a net profit of Rs 42,147 crore.

Photo Credit: Companys official fb page

5. ICICI Bank

The Indian multinational bank jumped two places from seventh to the fifth-most profitable company. Net interest income or the core income at Rs 62,129 crore.

Photo Credit: BQ Prime

6. Coal India

The world's largest coal miner reported a rise in net profit by 62% in fiscal 2023 despite a 17.7% fall in the March quarter due to higher provision for wage revision of employees.


Housing Development Finance Corp. rose one spot on the list as its net profit increased to Rs 26,161 crore. India's largest mortgage financier saw an increase of 15.78% in comparison with Rs 22,595 crore in fiscal 2022.

Photo Credit: Santosh Verma/Bloomberg

8. Infosys

Infosys Ltd. was the eight highest earning company for the fiscal. Its profit rose 8.9% at Rs 24,095 crore as compared with Rs 22,110 crore in the year-ago period.

Photo Credit: Dhiraj Singh/Bloomberg

9. ITC

ITC Ltd. reported a consolidated net profit of Rs 19,192 crore. Income grew 25.9% as compared with Rs 15,243 crore in the year-ago period.

Photo Credit: ITC amp Canva

10. Kotak Mahindra Bank

India's third largest private sector bank takes the tenth spot. Kotak Mahindra Bank Ltd. made a profit of Rs 14,925 crore, a 23.46% increase as compared with Rs 12,089 crore in the year-ago period.

Photo Credit: Vijay Sartape /BQ Prime

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