Reliance Industrial Infrastructure Ltd profit drops 65% in Q4

Reliance Group firm RIIL on Wednesday reported a 65 percent decline in consolidated profit at Rs 1.06 crore for the quarter ended March 31, 2022.

The company had posted a consolidated profit of Rs 3 crore in the year-ago period, Reliance Industrial Infrastructure Ltd (RIIL) said in a filing to BSE.

However, the total income of the company during the January-March quarter increased to Rs 19.65 crore over Rs 18.88 crore in the same period a year ago.

The board of directors recommended a dividend of Rs 3 per equity share of Rs 10 each for FY'22.

Reliance Industrial Infrastructure Ltd is mainly engaged in the business of setting up industrial infrastructure. Its main activities are the transportation of petroleum products and raw water through its pipelines, construction machinery on hire, and other infrastructure support services.

The company has its operations mainly in Mumbai and the Rasayani regions of Maharashtra, and the Surat and Jamnagar belts of Gujarat.