Reliance Industries Q2 Results Live: Profit Falls by 4.78% YOY

Reliance Industries Q2 Results Live : Reliance Industries declared their Q2 results on 14 Oct, 2024, revealing a modest topline increase of 0.22% year-over-year, yet the company's profit saw a notable decline of 4.78% compared to the previous year.

In contrast to the previous quarter, revenue dipped by 0.31%, while profit experienced a significant uptick of 9.41%. This juxtaposition illustrates the volatile nature of the company's financial performance.

The company's Selling, General & Administrative expenses fell by 5.97% quarter-over-quarter but rose by 11.8% year-over-year, indicating a shift in cost management strategies amidst a fluctuating revenue landscape.

Operating income for the quarter rose by 4.01% compared to the previous quarter, although it decreased by 7.77% year-over-year, reflecting the challenges faced in maintaining profitability in a competitive market.

The Earnings Per Share (EPS) for Q2 stood at ₹24.48, marking a 4.78% decrease year-over-year, which may concern investors looking for consistent growth.

In terms of stock performance, Reliance Industries has delivered a 0.13% return in the last week, a decline of 6.3% over the past six months, and a positive 6.19% year-to-date return, showing mixed results for shareholders.

Currently, Reliance Industries boasts a market capitalization of ₹1,857,391 crore, with a 52-week high of ₹3,217.6 and a low of ₹2,220.3, highlighting the stock's volatility in recent times.

As of 15 Oct, 2024, among the 31 analysts covering Reliance Industries, the ratings are varied: 3 analysts have issued a 'Sell' rating, 6 have given a 'Hold' rating, 13 have suggested 'Buy', and 9 analysts have recommended 'Strong Buy'.

The consensus recommendation as of 15 Oct, 2024, leans towards a 'Buy', indicating that despite the quarterly downturn in profit, analysts remain optimistic about the company's long-term prospects.