SBI is the most profitable company of the country, Not Reliance

SBI is the most profitable company in India, Not Reliance

SBI is the most profitable company in India, Not Reliance



Last week Government banned the import of laptops, so homegrown companies can sell their laptops easily..like Reliance JioBook…Such support from the government is necessary to grow any domestic industry, but is this support localized? And is such support distributed across different segments of the sector? Buthaps not!

For now, this move is beneficial for Reliance. ..anyway, Reliance is doing a lot to take its company forward and make profits.

Earlier Reliance was only in Oil to Chemical Business, then it came to Telecom, then retail and now it is making its foundation strong in finance and electronics. And somewhere due to the changing government policies, Sustain is also doing it….

But, by spreading its wings in different directions, Reliance is working on its profitability. In fact, Reliance Industries (RIL) which used to top the India Inc profit chart for more than 10 years, has now been replaced by SBI.

SBI has turned out to be the most profitable Indian company. SBI has dethroned Reliance from its position in the first quarter of 2023-24.

how did you become SBI’s Most Profitable Indian Company?

India’s biggest lender SBI has posted a consolidated net profit of Rs 66,860 crore, which is higher than RIL’s consolidated net profit of Rs 64,758 crore. SBI’s Q1FY24 net profit is Rs 18,537 crore and RIL’s net profit in this quarter is Rs 16,011 crore.

To date, Reliance has got competition from anyone in the most profitable firm, then Got it from Oil and Gas companies like Ongk and Indian Oil Corporation, but this time a bank has proved to be the most profitable company.

Thanks to

     gains from faster credit
growth,

     rising spread between
interest on loans and interest on deposits, and

     the reversal of past bad
loans,


All have again given record-high earnings this quarter. The net profit of all has been 153.1 percent as per this quarter of the previous financial year. 

The Spectacular Turnaround You Are Seeing May Be The Net Profit Of All Of You, This Is The Reason BFSI and Stock Broking Sector May Growth. Whereas before the Pandemic the corporate profit of the company was some 10%, today it has increased to 35%.

But, during this period, the industrial and manufacturing sector has been seeing a decline for some years, due to which revenue and profit have decreased. Now if we look at the annual profit before tax of REIL, it has remained the same for the last 4 years.

Incremental growth has been seen in the reel that has come from the new non-industrial business of the company Like Telecom and Retail…But, these new ventures are not as profitable as O2C, that’s why Reel is under pressure day by day.

Whether it is a bad company or an MSME or a startup, success often comes from niche business… Therefore, it is beneficial to start with the SBI model, you can go ahead and adopt the Reliance model, but it is better to start with a single domain. start karin

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top