REC Ltd's Financial Results Show Strong Sales and Profitability Growth, Receives 'Buy' Rating from MarketsMOJO

REC Ltd, a leading finance and NBFC company in the largecap industry, has recently announced its financial results for the quarter ending June 2024. The company has shown a positive performance in this quarter, with its score improving from 17 to 11 in the last 3 months.

One of the key highlights of REC's financials for this quarter is its net sales, which have reached an all-time high of Rs 13,078.66 crore. This is a significant growth compared to the previous five quarters, indicating a strong and consistent sales trend in the near term.

Another positive aspect of REC's financials is its Profit After Tax (PAT), which has grown by 24.96% year on year, reaching Rs 7,539.28 crore in the first half of the year. This shows a positive trend in the company's profitability in the near term.

Moreover, REC has also managed to maintain a low Debt-Equity Ratio of 6.43 times in the last five half-yearly periods. This indicates that the company has been reducing its borrowing and managing its debt efficiently, which is a positive sign for investors.

Based on these financial results, MarketsMOJO has given a 'Buy' call for REC's stock. With its strong sales and profitability trends, as well as efficient debt management, REC is poised for growth in the near future. Investors can consider adding REC to their portfolio for potential returns.