Reliance Beats Indian Oil Corporation, Becomes Biggest Indian Company

Reliance Industries has toppled state-owned Indian Oil Corporation (IOC) to become the country’s biggest company by revenue. The Mukesh Ambani-led conglomerate, in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 lakh crore.

In comparison, IOC posted a turnover of Rs 6.17 lakh crore for the fiscal. It was also the most profitable company in the country with a net profit of more than double that of IOC in FY2019.

Source- The Hindu Business Line

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