Mukesh Ambani-led Reliance Industries Ltd (RIL) was the most profitable company in the country in the last fiscal year, outstripping Oil and Natural Gas Corp. Ltd (ONGC) and Tata Consultancy Services Ltd (TCS).

ONGC, which held the top position for long, has dipped to third position. India's largest software services firm TCS stood at second position.

State Bank of India (SBI), India's largest lender, was in the fourth position followed by another Tata Group company, Tata Motors, at the fifth spot.

Here is the list of Top 10 Profitable Companies:

1.Reliance Industries Ltd (RIL)

RIL posted a record profit of ₹23,566 crore in the fiscal year 2014-15 on improved refining margins. It had earned a profit of ₹22,493 crore in 2013-14.

Reliance Industris Ltd
A man walks past an advertisement of Reliance Industries Limited at a construction site in Mumbai, India, May 14, 2015.Reuters

2. Tata Consultancy Services (TCS)

TCS, the bellwether of Indian IT sector, posted a profit of ₹19,648.4 crore in FY15, up 2.7 percent from a year earlier. Taking into account the employee bonus of ₹2,628 crore announced by the company, the profit stood at ₹21,696 crore, up 13.5 per cent.

Tata Consultancy Services (TCS) Chief Executive N. Chandrasekaran poses for a photo after a news conference to announce the company's Q3 results in Mumbai January 15, 2015.Reuters

3. Oil and Natural Gas Corp. Ltd (OGNC)

Consolidated net profit of India's largest oil and gas producer ONGC stood at ₹18,333.52 crore in 2014-15.

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of the western Indian city of Ahmedabad March 2, 2012.Reuters

4. State Bank of India

SBI posted a profit of ₹16,994 crore in 2014-15.

State Bank of India
A customer walks out of a State Bank of India (SBI) branch in Mumbai March 31, 2015.Reuters

5.Tata Motors

The Mumbai-based automobile major Tata Motors recorded a profit ₹13,986 crore during the financial year April 2014-March 2015.

Tata Motors
Mayank Pareek, President of Tata Motors' Passenger Vehicle Business Unit (PVBU), listens to a question as he stands next to the company's new "GenX Nano" car during its launch in Mumbai, India, May 19, 2015.Reuters

6. Coal India

State-owned Coal India Ltd., the world's largest coal producer, was the sixth most profitable company in the last fiscal year earning a profit of ₹13,727 crore.

Coal India
Labourers rest as a boy playfully shovels coal at a yard in the western Indian city of Ahmedabad November 20, 2014. (Representational Image]Reuters

7. Infosys

Infosys, country's second largest IT services firm, which has been struggling to increase its revenues for the past several quarters, announced a profit ₹12,329 crore.

An employee is seen behind an Infosys logo at the company's campus in the southern Indian city of Bangalore September 23, 2014.Reuters

8. ICICI Bank

ICICI Bank, India's largest private bank, stood at the eighth position with a profit of ₹12,247 crore for the fiscal year ending March 2015.

A pedestrian walks past a logo of ICICI Bank at its headquarters in Mumbai January 30, 2015. IReuters

9. HDFC Bank

Housing Development Finance Corp. Ltd (HDFC), the country's largest housing financier, earned a profit of ₹10,689 crore.

A customer walks outside an HDFC Bank branch in Mumbai July 17, 2013.Reuters

10. ITC

The Kolkata-headquartered FMCG major ITC posted a profit of ₹9,663 crore in the last fiscal year.

A man talks on his mobile phone as he walks past an ITC office building in Kolkata September 4, 2012.Reuters