So far, the results for the April-June quarter have been intriguing. BPCL, HPCL, Indian Oil Corporation, SBI, and TATA Motors are 5 companies that came out of the losses in speed. Profits at 983 major corporations soared by 64.7% to a record Rs 2.68 lakh crore. However, just five companies had a stake of more than 20% or Rs 53,687 crore. SBI is one among them.

In the past quarter, the overall profit of 983 enterprises climbed by Rs 1.05 lakh crore. This is the fastest growth rate in the last nine quarters. Only five companies own around two-thirds of this. It is made up of three state-owned oil marketing firms:

• BPCL,
• HPCL, and
• Indian Oil Corporation.

SBI made the most money in the fourth quarter of the fiscal year 2023-24. Last quarter, the country’s largest bank’s earnings surged by 153% year on year to a record Rs 18,537 crore. Tata Motors also turned a profit during this period.

The government oil refinery BPCL contributed the most to the enterprises’ overall profit gain, at 16%. In the June quarter, BPCL recorded a profit of Rs. 10,644 crores. In the same period last year, it lost Rs 6,148 crore. HPCL, another corporation in the same industry, was ranked second, while Indian Oil Corporation was ranked third.