Reliance Industrial Infrastructure Ltd. Reported 19.3 % Growth in Net Profit of Fourth Quarter of FY20

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Reliance Industrial Infrastructure Ltd (RIIL) reported a rise of 19.3 per cent in its consolidated net profit for the fourth quarter (Q4) of the financial year 2019-20.

The company’s net profit during the quarter under review increased to Rs 2.68 crore from Rs 2.25 crore in the corresponding period of the previous fiscal.

However, the company’s total income during Q4 fell to Rs 23.33 crore from Rs 24.67 crore on a Y-o-Y basis.

For the full fiscal 2019-20, the company’s net profit rose by 4.2 per cent to Rs 9.70 crore, from Rs 9.31 crore reported for 2018-19. On a standalone basis, RIIL’s Q4 net profit rose by 9.6 per cent to Rs 2.05 crore from Rs 1.87 crore reported for the corresponding period of the previous fiscal.

In terms of the full fiscal 2019-20, the company’s standalone net profit rose by 1.8 per cent to Rs 7.92 crore, from Rs 7.79 crore reported for 2018-19.

“The Board of Directors have recommended, subject to approval of Shareholders at the ensuing 32nd Annual General Meeting, a dividend of Rs 3 per fully paid up equity share of Rs 10 each, aggregating to Rs 453 lakh for the year ended 31st March 2020,” RIIL said in a regulatory filing.

“The Company 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 Reliance Industries Limited. The company presently does not have any expansion plans on the anvil.”

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