Reliance Industrial Infrastructure reports decline in revenue, net profit

Mumbai: Reliance Industrial Infrastructure has reported 1.7 per cent fall in its total revenue of Rs 99.81 crore in 2018-19 compared to Rs 101.55 crore in the previous year.

The income from product transportation services declined to Rs 30.93 crore, down 4.8 per cent from Rs 30.99 crore, according to an official statement.
Income from hiring construction machinery also decreased from Rs 24.95 crore to Rs 19.79 crore. But income from other support services increase from Rs 32.93 crore to Rs 33.87 crore, said the statement.

Consequently, the net profit for the year ended March 31, 2019 was Rs 7.79 crore compared to Rs 9.74 crore on the year-on-year basis.

Reliance Industrial Infrastructure provides support services to Reliance Industries Group with a substantial portion to Reliance Industries. It provides transportation of petroleum products and water through pipelines besides construction machinery on hire.

There are no expansion plans on the anvil, the company said.