Indian Renewable Energy Development Agency Reports Strong Financial Performance in June 2024 Quarter.
Indian Renewable Energy Development Agency, a largecap finance/NBFC company, has recently declared its financial results for the quarter ending June 2024. The company has shown a positive performance in this quarter, with its score improving from 12 to 17 in the last 3 months.One of the key factors contributing to this positive performance is the company's net sales, which have been consistently growing each quarter in the last five quarters. In fact, in the June 2024 quarter, the net sales reached its highest at Rs 1,510.27 crore. This trend is expected to continue in the near term, indicating a strong sales growth for the company.
Moreover, the operating profit (PBDIT) for the quarter also saw a significant increase, reaching its highest at Rs 1,458.86 crore. This shows a positive trend in the company's operations and financial management.
The profit after tax (PAT) for the quarter also saw a significant growth, reaching its highest at Rs 383.69 crore. This is a 22.6% increase over the average PAT of the previous four quarters, indicating a strong profitability for the company.
In addition, the earnings per share (EPS) for the quarter also reached its highest at Rs 1.43, showcasing the company's ability to generate higher earnings for its shareholders.
Overall, Indian Renewable Energy Development Agency has shown a strong financial performance in the June 2024 quarter, with positive trends in net sales, operating profit, and profit after tax. This is a positive sign for the company and its investors, and the stock call by MarketsMOJO for 'Hold' reflects this sentiment.
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