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7 most profitable companies. Check how their stocks performed in a year

In FY24, the Nifty50 companies saw a 27% increase in their combined profit after tax (PAT), reaching Rs…
7 Most Profitable Companies. Check How Their Stocks Performed In A Year

In FY24, the Nifty50 companies saw a 27% increase in their combined profit after tax (PAT), reaching Rs 8.14 lakh crore, up from Rs 6.39 lakh crore in the previous year. The top 10 companies contributed nearly 60% of the total profit for Nifty50 stocks.


India Inc. has performed remarkably in the financial year 2023-24 (FY24). The combined profit after tax (PAT) for the top 50 companies in the Nifty50 index surged 27% to Rs 8.14 lakh crore, up from Rs 6.39 lakh crore in the previous fiscal year (FY23). Nearly all companies in the Nifty50 reported profits, with only one company recording a loss during the year. The top 10 companies alone accounted for almost 60% of the total profits. Here’s a look at India’s top 10 most profitable companies in FY24 and how their stocks have performed over the past year.


1. Reliance Industries

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

Reliance Industries, led by billionaire Mukesh Ambani, has emerged as India’s top-earning publicly listed company in the financial year 2023-24 (FY24), reporting an annual profit after tax (PAT) of Rs 78,633 crore. This marks a 7% increase from Rs 73,646 crore in FY23. Reliance is India’s most valuable company, with a current market capitalization (m-cap) of Rs 20.71 lakh crore as of June 27, 2024. Over the past year, investors have seen a 23% return on Reliance stock.


2. State Bank of India:

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

State Bank of India (SBI), India’s biggest public sector bank, has secured the second position as the most profitable company with an annual profit after tax (PAT) of Rs 68,138 crore in the financial year 2023-24 (FY24). This reflects a 20% increase from Rs 56,558 crore in the previous fiscal year. As of June 27, 2024, SBI holds a market capitalization (m-cap) of Rs 7.53 lakh crore. Over the past 12 months, investors have enjoyed a 49% increase in the value of SBI’s stock.


3. HDFC Bank:

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

This private bank recorded a significant % annual profit increase of 42% to Rs 65,446 crore in FY24. With a current market capitalization of Rs 12.91 lakh crore, the bank’s stock has shown a modest 2% return over the past year.


4. Oil & Natural Gas Corporation:

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

This government-owned company in the petroleum sector achieved a remarkable 61% growth in profits, reaching a PAT of Rs 54,705 crore in FY24. Over the past year, its stock has surged by 70%, reflecting an impressive market capitalization of Rs 3.37 lakh crore.


5. Tata Consultancy Services

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

TCS, the leading company of the Tata group, ranks fifth among India’s most profitable companies. Its profits rose by 9% to Rs 46,099 crore in FY24. Over the past year, TCS stock has delivered a strong 23% return, reflecting its current market capitalization of Rs 14.23 lakh crore.


6. ICICI Bank:

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

Ranking sixth, it achieved a PAT of Rs 45,006 crore, showing a 31% increase from Rs 34,463 crore in FY23. The second largest private lender has a market capitalization of Rs 8.58 lakh crore, and its stock has risen by 31% over the past year.


7. Indian Oil Corporation:

7 Most Profitable Companies. Check How Their Stocks Performed In A Year

This petroleum sector PSU posted a profit of Rs 41,615 crore in FY24, marking a 284% increase from Rs 10,842 crore the previous year. The stock’s market cap is Rs 2.31 lakh crore, delivering an 83% return over the past 12 months.


Conclusion

These companies have shown strong profitability, with tech giants like Apple, Microsoft, and Alphabet leading the list. Their stock performances over the past year have generally been robust, reflecting their strong financial health and market positions. For instance, Nvidia’s stock saw an extraordinary return of over 200%, driven by advancements in AI and GPU technology. Companies in the financial and energy sectors, like JPMorgan Chase and Exxon Mobil, also demonstrated significant returns, highlighting the resilience and adaptability of diverse industries amid economic challenges.

Investors should consider these companies’ strong profitability and stock performance as indicators of their ability to weather economic fluctuations and generate long-term value.


FAQs

Q1: What is the most profitable company in the world?

Ans: The most profitable company in the world is Saudi Aramco, with a net income of $230.48 billion as of June 2024.

Q2: What is the most profitable company in the world?

Ans: Microsoft’s stock has demonstrated steady appreciation driven by its cloud computing platform Azure, solid performance in software products like Office, and strategic acquisitions. MSFT has maintained strong growth in a competitive tech landscape.

Q3: How did Amazon.com Inc. (AMZN) stock fare over the past year?

Ans: Amazon’s stock has mixed performance and is influenced by regulatory challenges and logistical complexities. However, AMZN continues to dominate e-commerce and cloud services (AWS), which have driven revenue growth despite market fluctuations.

Q4: What about Alphabet Inc. (GOOGL) stock performance?

Ans: Alphabet’s stock has shown resilience with steady growth driven by strong advertising revenue from Google Search and YouTube and expansion in cloud computing and AI initiatives. GOOGLE remains a leader in digital advertising and technology innovation.

Q5: Formerly Facebook, how has Meta Platforms Inc. (META) stock performed recently?

Ans: Meta’s stock has navigated regulatory uncertainties and user privacy concerns while expanding into virtual and augmented reality through Oculus. META’s performance reflects market sentiment around social media platforms and emerging technologies.

Q6: How has Berkshire Hathaway Inc. (BRK.B) stock performed under Warren Buffett’s leadership?

Ans: Berkshire Hathaway’s stock has shown stability and growth, supported by its diversified portfolio, which includes insurance and significant equity holdings. BRK.B continues to benefit from Buffett’s value investing approach and strategic long-term investments.

Q7: Lastly, what about Tesla Inc. (TSLA) stock? How has it fared amid its electric vehicle innovations?

Ans: Tesla’s stock has been highly volatile, influenced by production updates, market sentiment on electric vehicles, and CEO Elon Musk’s announcements. TSLA remains a frontrunner in EV innovation, attracting investor enthusiasm and scrutiny.

Q8: How has Apple Inc. (AAPL) stock performed over the past year?

Ans: Apple’s stock has shown resilience and growth, benefiting from strong iPhone sales and growth in services like Apple Music and iCloud. Despite market fluctuations, AAPL has generally trended upwards, reflecting investor confidence in its product ecosystem.

Q9: What about Microsoft Corporation (MSFT)? How has its stock performed?

Ans: Microsoft’s stock has demonstrated steady appreciation driven by its cloud computing platform Azure, solid performance in software products like Office, and strategic acquisitions. MSFT has maintained strong growth in a competitive tech landscape.

Q10: How did Amazon.com Inc. (AMZN) stock fare over the past year?

Ans: Amazon’s stock has had mixed performance, influenced by regulatory challenges and logistical complexities. However, AMZN continues to dominate e-commerce and cloud services (AWS), which have driven revenue growth despite market fluctuations.


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