Monday, 20 Jan 2020

RIIL's Q3 consolidated net profit up 12.6pc

Mumbai, Jan 15 : Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday reported a rise of 12.6 per cent in its consolidated net profit for the third quarter (Q3) of financial year 2019-20.

The company's net profit during the quarter under review increased to Rs 2.46 crore from Rs 2.18 crore in the corresponding period of the previous fiscal.

However, the company's total income fell to Rs 24.42 crore from Rs 25.02 crore on a Y-o-Y basis.

On a standalone basis, RIIL's net profit rose to Rs 2.08 crore, a rise of 9.3 per cent, from Rs 1.90 crore reported for the corresponding period of the previous fiscal.

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

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