RIIL’s Q1 net profit down by 39%

The company’s net profit stood at Rs 1.84 crore for the quarter ended June 30, 2017, down from Rs 3.02 crore in the corresponding quarter of last fiscal.

Reliance Industrial Infrastructure Ltd (RIIL) on Thursday reported a decline of 39.1 per cent in its net profit for the first quarter (Q1) of 2017-18.

Reliance Industrial Infrastructure Limited provides transportation of petroleum products and water through pipelines, construction machinery on hire and other support services to Reliance Industries Group . (http://www.riil.in)

The company’s net profit stood at Rs 1.84 crore for the quarter ended June 30, 2017, down from Rs 3.02 crore in the corresponding quarter of last fiscal.

According to the company, its total revenue for the quarter under review decreased by 5.6 per cent to Rs 24.82 crore from Rs 26.28 crore reported for the Q1, 2016-17.

“RIIL 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,” the company said in a regulatory filing to the BSE.

“RIIL presently does not have any expansion plans on the anvil.”