Reliance Industrial Infrastructure (RIIL) shares plunged over 1.5 per cent in the morning trade on Thursday after the company on Wednesday reported 32 per cent fall in net profit at Rs 3.02 crore for the quarter ended June 30, 2016. The company has reported net profit of Rs 4.45 crore in the corresponding quarter a year ago.
Gross sales of the company fell by 0.76 per cent to Rs 23.12 crore in the quarter under review. RIIL reported revenue of Rs 23.30 crore in the corresponding quarter a year ago.
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Operating income fell 17.60 per cent year-on-year to Rs 7.76 crore against Rs 9.42 crore in the same quarter last year.
Shares of RIIL were trading 1.27 per cent down at Rs 435.80 (at 11.27 am). The scrip opened at Rs 438.50 and has touched a high and low of Rs 440 and Rs 434.40, respectively, in trade so far.
Later, the scrip closed 1.22 per cent down at Rs 436.