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Reliance's Q2FY24 Financial Performance Review

Oct 28, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Reliance for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
Reliance reported a total income of ₹2,38,797 crores for Q2FY24, marking an 11.25% increase sequentially. On a year-on-year basis, the company exhibited a stable 1.32% growth in total income compared to the same quarter in the previous fiscal year.

EXPENSES: 
Expenses for Reliance in Q2FY24 amounted to ₹2,12,304 crores, reflecting an 11.53% increase compared to the preceding quarter, Q1FY24. On a year-on-year basis, the company suffered a -1.46% decrease.

NET PROFIT: 
The net profit of Reliance for Q2FY24 stood at ₹19,878 crores, displaying an 8.87% increase sequentially. On a year-on-year basis, the company exhibited significant growth with a remarkable 28.15% increase in net profit, indicating strong financial performance.

MARGINS: 
Reliance's margin in Q2FY24 was 8.32%, a slight decrease of -0.18% compared to the preceding quarter, Q1FY24. Year-on-year, the company improved its margin, with a growth of 1.74%, highlighting its ability to balance profitability and operational efficiency.

In conclusion, Reliance's financial performance in Q2FY24 reflects robust growth, increased profitability, and efficient management of expenses. The company's diverse business portfolio and strategic initiatives have contributed to these positive results.

 Stay tuned for more detailed updates on Reliance's financial performance in the coming quarters.