Reliance Industries Reports Highest Quarterly Net Profit in Five Quarters, But Shows Slight Decrease Compared to Last Year
Net Profit - Quarterly: Highest at Rs 14,894.00 cr in the last five quarters. Net profit has decreased by 2.5% compared to the same quarter last year. Reliance Industries, a largecap company in the oil exploration and refineries industry, has recently declared its financial results for the quarter ending March 2024. According to MarketsMOJO, a leading financial analysis platform, the stock call for Reliance Industries is 'Hold'.
The company has shown positive financial performance in the quarter, with a score improvement from 0 to 6 in the last 3 months. This is a result of several factors, including the company's ability to manage interest payments, with the highest operating profit to interest ratio in the last five quarters. Additionally, the net sales for the quarter were at a record high of Rs 236,533.00 crore, indicating a positive sales trend in the near term.
The operating profit (PBDIT) for the quarter was also at its highest in the last five quarters, at Rs 42,516.00 crore. This shows a positive trend in the company's near term operating profit. The profit before tax less other income (PBT) was also at its highest in the last five quarters, at Rs 23,286.00 crore, indicating a positive trend in the near term PBT.
However, there are some areas that are not working in favor of Reliance Industries based on its March 2024 financials. The non-operating income for the quarter was at its highest in the last five quarters, at Rs 4,534.00 crore. While this may seem positive, increased income from non-business activities may not be sustainable in the long run. Additionally, the net profit for the quarter was at its highest in the last five quarters, at Rs 14,894.00 crore. However, this is a decrease of 2.5% compared to the same quarter last year.
Overall, Reliance Industries has shown a positive financial performance in the quarter ending March 2024. However, investors should carefully consider all factors before making any investment decisions.
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