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Reliance industrial infrastructure Q1 profit slips over 10 per cent, new CFO takes over

Reliance Industrial Infrastructure Ltd said the net profit declined to Rs 1.72 crore from Rs 1.92 crore for the first quarter of the year 2019-20.

Published: 13th July 2019 07:42 PM  |   Last Updated: 13th July 2019 07:47 PM   |  A+A-

Reliance Industrial Infrastructure Ltd

Reliance Industrial Infrastructure Ltd (Photo | Wikipedia)

By ANI

MUMBAI: Reliance Industrial Infrastructure Ltd (RIIL) has reported 10.4 per cent decline in its net profit for the first quarter (April to June) of current financial year 2019-20.

The company said the net profit declined to Rs 1.72 crore from Rs 1.92 crore in the corresponding period of previous fiscal.

"During the quarter ended June 30, RIIL's total income was Rs 24.32 crore as compared to Rs 24.94 crore achieved in the corresponding period of previous year," the company said in a statement.

"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 Reliance Industries Limited," it said. "RIIL presently does not have any expansion plans on the anvil."

In another statement, RIIL said Chief Financial Officer Salil Mishra has left the organisation. The board of directors has appointed Krimesh Divecha in his place. (ANI)

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