Reliance Industries Ltd (RIL), headed by India’s richest man Mukesh Ambani, has emerged the biggest company by revenue, toppling state-owned Indian Oil Corporation (IOC).
RIL was already the leader in terms of profits, assets and market capitalisation for some time now.
The oil-to-telecom conglomerate recorded a turnover of Rs. 6.23-lakh crore for the financial year ended March 31, compared with Rs. 6.17-lakh crore posted by IOC. For the reporting period, RIL was also the most profitable Indian company with a net profit of Rs. 39,588 crore.
On the other hand, IOC posted yearly net profit of Rs. 16,894.1 crore.
