RIIL profit drops 22% to Rs 2.10 crore

Reliance Industrial Infrastructure Ltd (RIIL) today posted a 21.6 per cent decline in standalone profit at Rs 2.10 crore for the quarter ended September 30, 2018. The company had posted standalone profit of Rs 2.68 crore in the corresponding quarter of previous fiscal, RIIL said in a BSE filing.

However, the company’s total income during the July-September quarter increased to Rs 25.17 crore, over Rs 23.79 crore in the year-ago period.

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 RIIL.

RIIL presently does not have any expansion plans on the anvil, the company said in a release. Meanwhile, the telecom sector is likely to experience three more quarters of losses, hurt by high levies and “unsustainable tariffs”, a top official of industry body COAI has said.

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