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Reliance Industries Shares Peak at Historic Highs on Strong Annual Results

Reliance Industries Shares Peak at Historic Highs on Strong Annual Results

Reliance Industries Ltd saw a 0.85% rise in its stock price on Tuesday following its announcement of record-breaking annual earnings. The stock reached Rs 2,986.05 on the BSE and Rs 2,987 on the NSE, reflecting investor optimism.

The company's market valuation reached an impressive Rs 20,07,346.55 crore, showcasing its strong financial standing.

In its recent quarterly report, Reliance Industries Ltd reported a nearly flat net profit for the March quarter but achieved record-high annual earnings. The company's consolidated net profit for January-March 2023-24 was Rs 18,951 crore, or Rs 28.01 per share, slightly lower than the previous year's Rs 19,299 crore. However, there was an improvement compared to the October-December period's net profit of Rs 17,265 crore.

For the entire fiscal year 2023-24, Reliance recorded a record net profit of Rs 69,621 crore, marking a significant increase from the previous year's Rs 66,702 crore.

A noteworthy achievement was Reliance becoming the first Indian company to surpass a turnover of Rs 10 lakh crore in FY24, with revenue from operations rising by 2.6% from Rs 9.74 lakh crore in the previous fiscal year.

These results were attributed to a recovery in the core oil and petrochemicals business, coupled with sustained growth in the telecom and retail sectors.

Overall, Reliance Industries Ltd's strong financial performance and strategic diversification across sectors have positioned it as a major player in the Indian market, attracting positive attention from investors and analysts alike.

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Reliance Industries Shares Peak at Historic Highs on Strong Annual Results

Reliance Industries Shares Peak at Historic Highs on Strong Annual Results

Reliance Industries Ltd saw a 0.85% rise in its stock price on Tuesday following its announcement of record-breaking annual earnings. The stock reached Rs 2,986.05 on the BSE and Rs 2,987 on the NSE, reflecting investor optimism.

The company's market valuation reached an impressive Rs 20,07,346.55 crore, showcasing its strong financial standing.

In its recent quarterly report, Reliance Industries Ltd reported a nearly flat net profit for the March quarter but achieved record-high annual earnings. The company's consolidated net profit for January-March 2023-24 was Rs 18,951 crore, or Rs 28.01 per share, slightly lower than the previous year's Rs 19,299 crore. However, there was an improvement compared to the October-December period's net profit of Rs 17,265 crore.

For the entire fiscal year 2023-24, Reliance recorded a record net profit of Rs 69,621 crore, marking a significant increase from the previous year's Rs 66,702 crore.

A noteworthy achievement was Reliance becoming the first Indian company to surpass a turnover of Rs 10 lakh crore in FY24, with revenue from operations rising by 2.6% from Rs 9.74 lakh crore in the previous fiscal year.

These results were attributed to a recovery in the core oil and petrochemicals business, coupled with sustained growth in the telecom and retail sectors.

Overall, Reliance Industries Ltd's strong financial performance and strategic diversification across sectors have positioned it as a major player in the Indian market, attracting positive attention from investors and analysts alike.

 
 
 
 
 

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