Reliance Industrial Infrastructure Ltd (RIIL) today reported about 21 per cent drop in its first quarter net profit to Rs 444 crore.
Net profit of Rs 444 crore, or Rs 2.94 a share, in April-June was 20.8 per cent lower than Rs 560 crore, or Rs 3.71 per share, in the same period a year ago, the company said in a statement.
Revenue was up 13.9 per cent to Rs 2,654 crore, it added.
“The increase was primarily on account of increase in income from hiring of construction machinery and increase in other income,” the statement said.
The company, however, did not give a reason for dip in net profit.
RIIL provides infrstructure support services like transportation of petroleum products and water through pipelines, construction machinery on hire, and other support services to Reliance Industries.