Reliance Industrial Infrastructure Ltd (RIIL) has posted a net profit of Rs 2.26 crore in the July-September quarter of FY 2022-23.
RIIL announced its quarterly results on 15 October which reported an 11.4 per cent drop in comparison to the previous quarter ended in June 2022.
It had incurred a net profit of Rs 2.55 crore in the same period last year, the company said in a stock regulatory filing.
RIIL’s total income in the quarter ended September 30, 2022, stood at ₹2,120 crore, which was 0.2 percent up from ₹2,116.23 crores in the year-ago period.
It is worth noting that the RIIL’s profit was 61 per cent higher than ₹1.40 crore net profit in the preceding April-June quarter.
Furthermore, in Q2FY2023 Its income increased in two more services.
The income from hiring construction machineries increased to ₹374.13 lakh from ₹369.77 lakh in Q2 of FY 2023, while the income from other support services increased to ₹482.89 lakh from ₹447.31 lakh.
On the other hand, The firm’s income from product transportation service declined to ₹804.78 lakh from ₹857.05 lakh. And the consolidated net profit declined to ₹226.35 lakh in Q2FY2023 from ₹255.39 lakh.
“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.