Let’s power through Reliance Industries’ quarterly earnings from December 2021 to December 2024 to unpack its financial story. Sales have shown a rollercoaster ride, peaking at 146,832 in March 2024 but dipping to 124,381 by December 2024, with notable growth spurts like the jump from 111,152 in December 2021 to 146,478 in June 2022, though recent quarters hint at a plateauing trend—possibly reflecting market saturation or seasonal lulls. Profitability has been a mixed bag, with operating profit margins dancing between 9% and 15%, hitting a low in September 2022 before stabilizing around 12% to 14% in recent quarters, suggesting resilience but no breakout gains. Operationally, the company’s kept a tight grip, with operating profit peaking at 20,953 in June 2022 and holding steady above 13,000 lately, though rising depreciation—climbing from 2,597 to 4,459—points to heavier asset investments, likely in telecom and retail, eating into efficiency gains. Expenses have tracked sales closely, showing discipline, but the uptick in interest costs earlier, peaking at 3,752 in March 2023, reflects past borrowing that’s now easing. Profit before tax has fluctuated, soaring to 19,488 in June 2022 but dropping to 9,757 in September 2022, with a steadier 10,000 to 15,000 range recently—tax rates jumping from 4% in March 2023 to a consistent 24%-25% have crimped net profits, which hit 15,096 in June 2022 but settled around 7,611 to 11,283 lately. EPS mirrors this, peaking at 11.16 before sliding to 5.11, now hovering around 5.62 to 8.34, tied to those profit swings and equity dilution. In conclusion, Reliance shows solid growth with sales and profits trending up long-term, but recent stagnation, tighter margins, and rising depreciation signal maturing operations—financial health remains robust, though future gains hinge on squeezing more from its hefty investments.