Mon, Jul 1, 2024 1:38 PM
RBI, ASEAN countries to create platform to facilitate cross-border payments
A Flip by Shubhangi Gupta
Avenue Supermarts, owner of DMart outlets, reported a 18% increase in standalone sales to ₹13,712 Crore for Q1 2024, with a 22.4% rise in consolidated net profit to ₹563 Crore. Revenue grew 20% YoY to ₹12,727 Crore, with EBITDA up 22.3% to ₹943 Crore and operating profit margin increasing to 7.41%. Basic EPS rose to ₹9.28 from ₹7.80 in Q4 FY23, as the company expanded its footprint.
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Senior and super-senior citizens need to understand that Tax Deducted at Source (TDS) is an advance payment towards their tax liability, not a guarantee of exemption from filing income tax returns. They may still need to file returns if their total income exceeds ₹5 lakh or if specific deductions/exemptions have not been considered in the TDS calculation.
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Reliance Industries' share price, up 20% year-to-date, is expected to rise further, with UBS Research targeting ₹3420, a 10% upside from current levels of ₹3110. Analysts expect improved profitability in telecom and strong retail business prospects, driven by consumer businesses. EBITDA is expected to rise 5% year-on-year in Q1, with digital and retail EBITDA up 12% year-on-year.
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