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This Bank Dethrones Ambani's Empire As India's Most Profitable Company

Mukesh Ambani's Reliance Industries has been toppled from its throne, not by a competitor, but by a top government bank, The State Bank of India (SBI), as India's most profitable company.

By Rashaad Ather
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State Bank Of India (SBI) vs. Mukesh Ambani's Reliance Industries

State Bank Of India (SBI) vs. Mukesh Ambani's Reliance Industries

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Mukesh Ambani’s Reliance Industries has finally been dethroned.

And it’s not a rival industry or some tycoon’s company.

A bank has outdone the legendary Reliance Industries. A government-owned bank.

Yes, it’s the State Bank of India (SBI).

SBI has overtaken Ambani’s Reliance Industries to become the most profitable company in India although Reliance is still the country’s most valuable firm (₹19.05 lakh crore).

SBI is the fifth most valued company on the BSE stock listing (₹7.15 lakh crores).

The central government-owned bank saw a 24% year-on-year surge in its March quarter net profit, reaching ₹20,698 crore. 

Reliance Industries recorded a net profit of ₹18,951 crores in Q4, while SBI's net profit for the same quarter was ₹20,698 crores. 

Also, SBI leads in terms of revenue from operations, with an annual revenue of ₹1.11 lakh crore - a 19% increase from the previous year's figure of ₹92,951 crores. 


The bank's profitability rankings shifted after SBI reported strong Q4 results, with improved asset quality and Non-Performing Assets (bankrupt investments) at 0.57% compared to 0.67% last year.

It means that SBI is the undisputed most desirable business entity in the market.

SBI's strong Q4 performance led several brokerages to increase their price target for the bank's shares, boosting investor confidence. Nomura maintained its "buy" rating for the stock and raised the price target from ₹825 to ₹1,000.