Reliance Industries Infrastructure Reports 11.4% Decline in Q2 Net Profit

Reliance Industrial Infrastructure Ltd (RIIL) on Saturday reported an 11.4 per cent drop in the second quarter net profit on flattish revenue, according to a PTI report.

Net profit of Rs 2.26 crore in July-September was 11.4 per cent lower than Rs 2.55 crore net profit in the same period last year, the company said in a statement.

The last trading price of Reliance Industrial Infrastructure Ltd is Rs 1,117 apiece with the 52-week high at Rs 1257 apiece and 52-week low at Rs 610 apiece, respectively. The company has a market capitalisation of Rs 1,687 crore.

The profit was however 61 per cent higher than Rs 1.40 crore net profit in the preceding April-June quarter, added the PTI report.

Revenue was almost unchanged at Rs 21.2 crore.

"The company continues to provide infrastructure support services namely transportation of petroleum products and raw water through pipelines, construction machinery on hire, and other support services to Reliance Industries Group, with a substantial portion provided to Reliance Industries Limited," it said.

"The company presently does not have any expansion plans on the anvil.