Top Profitable Companies in India by Revenue in 2024: India, emerging as the fastest-growing large economy in the post-pandemic world, is set to become the third-largest economy and transition to the upper-middle-income category by FY 2030-31, S&P predicts.
Furthermore, the country is raising its share in the global GDP from 3.6% to 4.5% in FY 2023-24 and 6.6% real GDP growth for FY 2024-25, as forecasted by the RBI, with its nominal GDP estimated to nearly double to over US $7 trillion by fiscal 2030–31.
As per the Economic Survey 2023-24, India’s corporate sector profitability was at a 15-year high in FY24, with profits quadrupling between FY20 and FY23.
Noting the success of India’s rapid economic growth, India’s largest companies are accelerating the country’s economy and industries forward by achieving remarkable revenue, thereby significantly boosting their market valuations and global influence.
In a notable mention, Reliance Industries Ltd. is India’s most profitable company, with a total revenue of about $108,878 million in 2024.
Globally, ranked at 86, it has improved its position from 88th in 2023, marking its 21st consecutive year on the list—the longest for any Indian private sector company.
In a remarkable mention, India’s largest insurance company, LIC, has emerged as India’s second most profitable company in 2024 and notably has moved up to the 95th spot globally, from 107th in 2023, indicating a significant rise in its global standing.
Furthermore, entering the list for the first time at 306, HDFC Bank is one of the eight largest banks in the world with a market cap of $164.51 billion and has marked its debut among the world’s largest corporations by revenue in 2025.
Source: Fortune Global 500
Please note: The companies featured are ranked as per the total revenues earned for the respective fiscal years ended on or before March 31, 2024.
Last year, the world’s 500 largest corporations reported nearly flat but still record-breaking aggregate sales of $41 trillion, up 0.1% year on year.
Notably, for the first time since 2018, the United States’ (139) position on the Fortune Global 500 topped that of Greater China (133 firms).
Walmart undoubtedly retains No. 1 for the 11th straight year, yet Amazon sets a new high and takes No. 2 (up from No. 4 the previous year).
Saudi Aramco, Saudi Arabia’s major firm, falls to fourth place; nonetheless, with $121 billion in earnings, it remains the most profitable company on the list for the third consecutive year.
Source: Fortune Global 500
Please note: The companies featured are ranked as per the total revenues earned for the respective fiscal years ended on or before March 31, 2024.
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Cherry Gupta is an Assistant Manager – Content at The Indian Express. She is responsible for crafting compelling narratives, uncovering the latest news and developments, and driving engaging content based on data and trends to boost website traffic and audience engagement. One can connect with her on LinkedIn or by mail at cherry.gupta@indianexpress.com. … Read More
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India’s largest and most profitable companies by revenue in 2024 – The Indian Express
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