Reliance Home Finance Reports Negative Financial Results for Q2 2024
Reliance Home Finance, a microcap company in the finance-housing industry, recently announced its financial results for the quarter ending June 2024. According to the report released on August 12, 2024, the company's stock has been given a 'Sell' call by MarketsMOJO.
The company's financial performance for the quarter has been negative, with a score of -6, which is an improvement from the previous quarter's score of -13. However, there are still areas that need improvement.
One of the major concerns is the Profit Before Tax less Other Income (PBT) for the quarter, which has fallen by 107.13% year on year, standing at Rs -0.44 crore. The near-term trend for PBT is also negative, indicating a need for improvement in this area.
Similarly, the Profit After Tax (PAT) for the quarter has also fallen by 107.1% year on year, with a value of Rs -0.44 crore. The near-term trend for PAT is also negative, highlighting the need for the company to address this issue.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Reliance Home Finance. Investors and stakeholders will be closely monitoring the company's performance in the coming months to see if there are any improvements.
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