Reliance Industrial Infrastructure Q2 profit up 40.7% to Rs 3.18 crore, revenue drops by 13.6%

Reliance Industrial Infrastructure Ltd (RIIL), an entity of Reliance Industries, posted its Q2 earnings with profit at Rs 3.18 crore, up 40.7 per cent on-year. It had posted Q2 profit for FY23 at Rs 2.26 crore. The company recorded revenue from operations at Rs 14.36 crore, down 13.6 per cent in comparison to Rs 16.62 crore during the second quarter of previous year.

The company registered a total income of Rs 20.85 crore during Q2FY24, down 1.7 per cent from Rs 21.20 crore during Q2FY23. However, total expenditure incurred during the quarter in review was at Rs 16.32 crore, down 11.4 per cent in comparison to Rs 18.41 crore during the year ago period. It posted income from product transportation service, other support services and hiring construction machineries at Rs 14.36 crore as compared to Rs 16.62 crore of Q2FY23. This is in line with the actual utilization of assets. Other income increased to Rs 6.49 crore from Rs 4.58 crore

RIIL said that 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 RelianceIndustries Limited. Further, it added that the company presently does not have any expansion plans on the anvil.