Mukesh Ambani company Reliance Industries (RIL) has achieved another milestone. Actually, RIL has now become the largest company of Fortune India 500 in terms of earnings. Meanwhile, Reliance Industrial Investments and Holdings Limited (RIIHL), a subsidiary of Reliance Industries Limited (RIL), has signed an investment agreement of Rs 25,215 crore with Canadian company Brookfield Infrastructure. The investment will be made in the company's tower infrastructure trust.
Emperor of Indian Oil
According to the Fortune India 500, RIL has ended its 10-year reign of public sector company Indian Oil Corporation in terms of earnings. According to Fortune India, in the case of revenue, Reliance Industries registered a growth of 41.5% in the financial year 2018-19.
This is 8.4 percent more than Indian Oil. During this time, Reliance Industries achieved a revenue of Rs 5.81 lakh crore, while Indian Oil's revenue stood at Rs 5.36 lakh crore. Not only this, Reliance Industries made a net profit of Rs 39,588 crore during this period. In this case also Indian Oil is far behind.
ONGC in third Place
Oil and Natural Gas Corporation (ONGC) was the third largest public sector company after RIL and Indian Oil in terms of earnings. State Bank of India, Tata Motors and Bharat Petroleum Corporation Limited (BPCL) were ranked. There was no change in their ranking in the year 2018 and 2019.
While Rajesh Exports finished seventh. She climbed up a notch. Similarly, Tata Steel, Coal India, Tata Consultancy Services and Larsen & Toubro also climbed one place to 8th, 9th, 10th and 11th place respectively. ICICI Bank climbed two places to 12th position, followed by Hindalco Industries and HDFC Bank. 57 companies have been left out of this list due to merger among public sector banks, merger of PSUs. However, the total loss of Fortune 500 companies has reduced during this period.
