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India’s largest and most profitable companies by revenue in 2024

Top highest profit-making Indian companies of 2024: Entering the Fortune Global list for the first time, HDFC Bank is one of the eight largest banks in the world, has marked its debut among the world's largest corporations by revenue in 2024.

Top highest profit-making and largest companies by revenue in India, as of 2024

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.

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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.

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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.

Interesting Read | Top 10 billionaires set to become trillionaires by 2030: Sole Indian in the list

Led by billionaire Mukesh Ambani, RIL is presently India’s largest company with a market cap of ₹16.748 trillion. (PTI Photo)

India’s top profitable companies by revenue in 2024

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.

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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.

India Rank	Global Rank	Name of the Company	Revenue (US $, Million)	Total Profits (US $, Million)	Years on the list
1	86	Reliance Industries	$108,877.90	$8,412.50	21
2	95	Life Insurance Corp. of India (LIC)	$103,547.60	$4,944	3
3	116	Indian Oil	$94,273	$5,042.30	30
4	178	State Bank of India	$71,844	$8,106	19
5	180	Oil & Natural Gas	$71,466.10	$5,947.60	18
6	258	Bharat Petroleum	$54,413.10	$3,245.40	21
7	271	Tata Motors	$53,634.90	$3,794	15
8	306	HDFC Bank	$49,299.10	$7,740.80	1
9	463	Rajesh Exports	$33,944.10	$40.5	9

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.

World’s top 10 most profitable companies by revenue in 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.

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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.

Here are the world’s top 10 largest companies in terms of total revenue, as of 2024:

Rank	Company Name	Total Revenue (US $, Million)	Total Profits (US $, Million)	Years on the list	Country
1	Walmart	648,125	$15,511	30	United States
2	Amazon	574,785	$30,425	16	United States
3	State Grid	545,947.50	$9,204.30	24	China
4	Saudi Aramco	494,890.10	$120,699.30	6	Saudi Arabia
5	Sinopec Group	429,699.70	$9,393.40	26	China
6	China National Petroleum	421,713.60	$21,294.70	24	China
7	Apple	383,285	$96,995	22	United States
8	UnitedHealth Group	371,622	$22,381	28	United States
9	Berkshire Hathaway	364,482	$96,223	28	United States
10	CVS Health	357,776	$8,344	29	United States

Source: Fortune Global 500

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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.

Cherry Gupta

Cherry Gupta is an Assistant Manager – Content at The Indian Express. She leads the Top 10 section, curating list-based features on key national and international developments, and manages daily news content. She also produces SEO-driven articles and collaborates with the Lifestyle team to conduct interviews with notable artists and write workplace culture features. ... Read More