RIIL's Q3FY22 YoY Standalone Net Profit Up 2.2%

Reliance Industrial Infrastructure Ltd (RIIL) reported a rise of 2.2 per cent in its standalone net profit for the third quarter (Q3) of 2021-22 financial year on a year-on-year basis.

The company's net profit during the quarter under review increased to Rs 1.99 crore from Rs 1.95 crore in the corresponding period of the previous fiscal.

Besides, the company's total income rose to Rs 20.40 crore from Rs 16.53 crore on a YoY basis.

"Income from Product Transportation Service increased to Rs 845.45 lakh from Rs 792.41 lakh," the company said in the results statement.

"Income from Hiring Construction Machineries' increased to Rs 346.33 lakh from Rs 62.39 lakh," it added.

On a consolidated basis, RIIL's net profit fell by 2.7 per cent to Rs 2.33 crore from Rs 2.39 crore reported for the corresponding period of the previous fiscal.

"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. The company presently does not have any expansion plans on the anvil," it said.