Reliance Industries' Q1FY25 consolidated profit declined 5.5% YoY to Rs 15,138 crore, causing a 3% share dip.
Reliance Industries (RIL) shares dipped 3% to Rs 3,018.65 after reporting a 5.5% year-on-year decline in consolidated profit to Rs 15,138 crore for Q1FY25. The decline was attributed to weakness in its oil-to-chemicals division and higher depreciation costs. Despite the dip, some analysts suggest up to a 22% upside on the stock, considering the upcoming Reliance Jio IPO, refining and petchem upcycle, and New Energy operations.
July 22, 2024
3 Articles