Religare's Remarkable Growth: 70% Profit Surge in Q2 2024

Religare Enterprises posted a 70% increase in net profit for the second quarter of 2024, reaching Rs 68.49 crore. The financial firm's revenue also grew significantly, from Rs 1,586 crore to Rs 1,971 crore. Group CFO Nitin Aggarwal will leave his position by mid-November.

In a striking financial performance, Religare Enterprises announced a 70 percent surge in its consolidated net profit, achieving Rs 68.49 crore for the second quarter ending September 2024.

Compared to the Rs 40.35 crore profit reported during the same period of the previous year, this marks a substantial growth milestone for the firm's financial outcomes.

Religare's total revenue also saw a notable rise, reaching Rs 1,971 crore in Q2 of the current fiscal year, up from last year's Rs 1,586 crore. Meanwhile, the company disclosed that Group CFO Nitin Aggarwal is set to depart post-business hours on November 12, 2024.

(With inputs from agencies.)