Mumbai, May 20: Companies earn profits as a result of their business operations and strategies. Companies generate revenue through sales by offering products or services that fulfil market demands. Profit is achieved by ensuring that the revenue generated exceeds the costs incurred, including production, operating, and administrative expenses. Effective management, competitive advantage, cost control, innovation, and customer satisfaction are crucial factors contributing to a company's ability to generate and sustain profitable outcomes.

According to Ace Equity Data, the financial year 2023 witnessed the combined profits of the top 10 Indian companies amounting to Rs 3,56,652 crore. Notably, Reliance Industries emerged as the leading profit-earning firm, generating an impressive Rs 74,131 crore in FY23. Below is a compilation of the top 10 companies that amassed profits exceeding Rs 3.5 lakh crore in the fiscal year 2023, as per Ace Equity Data. Swiggy Food Delivery Business Turns Profitable in Less Than Nine Years Since Inception, Says CEO Sriharsha Majety.

Most Profitable Companies in India in FY 2022-23:

Reliance

Mukesh Ambani-Owned Reliance made Rs 74,131 crore net profit in fiscal 2023, up from Rs 67,565 crore in fiscal 22. The market capital of Reliance is Rs 16,44,380 crore. Gautam Adani No Longer in List of World's Top 10 Richest Persons, His Net Worth Plummets by $36 Billion After Adani Group Companies' Shares Crashed Following Hindenburg Report.

State Bank of India (SBI)

With a market capitalisation of Rs 5,11,202 crore, SBI continues to establish its strong presence in the market. In the financial year 2023, the State Bank of India (SBI) reported a net profit of Rs 56,558 crore, a significant increase from Rs 36,356 crore in FY22.

HDFC Bank

HDFC Bank recorded a profit of Rs 46,149 crore in the financial year 2023, surpassing its profit of Rs 38,151 crore in 2022. With a valuation of Rs 9,15,874 crore, the bank's worth reflects its robust standing in the market.

TCS

Tata Consultancy Services (TCS), a part of Tata Group, is a IT and Consulting service provider. In FY23, TCS achieved a net profit of Rs 42,303 crore, demonstrating growth from its net profit of Rs 38,449 crore in FY22. With a market capitalisation of Rs 11,76,385 crore, TCS solidifies its position as a significant player in the market.

ICICI Bank

ICICI Bank is a prominent financial institution that is headquartered in Mumbai. In the financial year 2023, ICICI Bank recorded a net profit of Rs 34,463 crore, exhibiting a notable increase from its net profit of Rs 25,784 crore in FY22. With a market capitalisation of Rs 6,60,486 crore, the bank showcases its substantial value and presence in the market.

Coal India

Coal India Limited is the largest government-owned coal producer in the world. Coal India achieved a net profit of Rs 28,133 crore in FY23, marking a substantial increase from its net profit of Rs 17,387 crore in FY22. With a market capitalisation of Rs 1,48,090 crore, the company remains a significant player in the market.

Infosys

Narayan Murthy founded Infosys in Pune in 1981. The company is now headquartered in Bengaluru. Infosys disclosed a net profit of Rs 24,108 crore in the financial year 2023, showcasing growth from its net profit of Rs 22,146 crore in FY22. The IT giant has a market capitalisation of Rs 5,25,849 crore.

ITC

ITC Limited maintains a diverse presence spanning multiple industries, including FMCG, hotels, software, packaging, paperboards, speciality papers, and agribusiness. ITC recorded a net profit of Rs 19,428 crore in FY23, reflecting an increase from its net profit of Rs 15,486 crore in FY22. ITC reaffirms its position as a notable player in the market with a market capitalization of Rs 5,21,915 crore.

HDFC

HDFC, India's largest private sector bank by assets, is the world's 10th-largest bank by market capitalisation as of April 2021. In the financial year 2023, HDFC achieved a net profit of Rs 16,534 crore, displaying growth from its net profit of Rs 15,072 crore in FY22. With a market capitalisation of Rs 4,98,236 crore, HDFC further strengthens its position as a significant player in the market.

HCL Tech

Founded in 1991, HCL Tech has offices in 52 countries and over 225,944 employees. HCL Tech recorded a net profit of Rs 15,845 crore in FY23, showcasing an increase from its net profit of Rs 13,524 crore in FY22. The tech firm sits at the 10th spot comfortably with a market capitalisation of Rs 2,97,200 crore.

India is home to numerous profitable companies across various sectors. Leading players such as Reliance, Tata Consultancy Services, HDFC Bank, Infosys, ITC, etc., have consistently reported substantial net profits, showcasing their financial strength and market presence. These companies demonstrate the resilience and success of India's corporate landscape.

(The above story first appeared on LatestLY on May 21, 2023 07:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).