RIIL Net Profit Drops 11.4% in Q2

Reliance Industrial Infrastructure Ltd (RIIL) on Saturday reported an 11.4 per cent drop in the second quarter net profit on flattish revenue.
     
Net profit of Rs 2.26 crore in July-September was 11.4 per cent lower than Rs 2.55 crore net profit in the same period last year, the company said in a statement.
     
The profit was however 61 per cent higher than Rs 1.40 crore net profit in the preceding April-June quarter. Revenue was almost unchanged at Rs 21.2 crore.
     
"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. 
     
"The company presently does not have any expansion plans on the anvil."