RIIL's Q1 net profit down 10.4%

Industrialist Mukesh Ambani and Nita Ambani serve food to the children from various NGOs during the inauguration of Dhirubhai Ambani Square at Jio World Centre, Bandra, in Mumbai.Photo/Shashank Parade)(
Mumbai, Reliance Industrial Infrastructure Ltd (RIIL) on Friday reported a 10.4 per cent decline in its net profit for the first quarter (Q1) of financial year 2019-20.

Accordingly, the company's net profit during the quarter under review fell to Rs 1.72 crore from Rs 1.92 crore in the corresponding period of previous fiscal.

"During the quarter ended June 30, 2019, RIlL achieved total income of Rs 2,432 lakh as compared to Rs 2,494 lakh achieved in the corresponding period of the previous year," the company said in a statement.

"RIlL 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," the statement said.

"RIlL presently does not have any expansion plans on the anvil," it added.

The company's stock closed at Rs 284.20 a share, down Rs 2.35, or by 0.82 per cent, from its previous close of Rs 286.55 on the BSE.

--IANS

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