Reliance Industries Ltd. has delivered a strong performance in the financial year ending March 31, 2024. RIL made a net profit of Rs 18951 crore in the January-March quarter. During this period, the company’s revenue has increased by 11 percent to Rs 2.40 lakh crore. Reliance Industries had also announced a dividend of Rs 10 per share. The excellent performance by the Group has also been appreciated by global rating agencies.
The Group has gained the confidence of global rating agencies S&P and Fitch. Experts say that its benefits will be visible on the company’s performance and stock. There may be a good rise in the stock further.
The company is emphasizing on expansion
S&P Global Ratings and Fitch Ratings, in separate statements, have said that the company’s financial performance will remain strong even in the current financial year 2024-25. According to the statement, Reliance Industries Limited’s (RIL) strong earnings will remain in check as the company pursues growth ambitions. We expect the company’s debt to earnings before tax ratio to remain in line with the rating (BBB+/Stable/–).
RIL’s earnings will increase
S&P said RIL’s earnings would benefit from past investments. We estimate that the company’s adjusted pre-tax income will grow by two to four percent in the financial year 2024-25. Meanwhile, Fitch Ratings said, we expect RIL’s pre-tax income in the financial year 2024-25 to grow by eight percent on an annual basis. Percentage will increase. It will increase by 14 percent in the financial year 2025-26.
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