RIIL's fourth-quarter net profit in FY 2019 dips over 26 pct

Reliance Industrial Infrastructure Ltd (RIIL), a Reliance Group company, on Monday reported a decline of 26.4 per cent in its net profit for the fourth quarter ended March 31, 2019. According to the company, its net profit during the quarter under review stood at Rs 1.87 crore. It had reported a net profit of Rs 2.54 crore for the corresponding period in 2017-18.

"During the quarter ended March 31, 2019, RIIL achieved total revenue of Rs 2,468 lakh as compared to Rs 2,502 lakh achieved in the previous quarter of FY 2018-19," the company said in a statement.

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For the full fiscal 2018-19, the company`s net profit declined by 20 per cent to Rs 7.79 crore, from Rs 9.74 crore reported for 2017-18.

"During the year ended March 31, 2019, RIIL achieved total revenue of Rs 9,981 lakh as compared to Rs 10,155 lakh achieved in the previous year FY 2017-18," the statement said. 

"The Board of Directors have recommended, subject to the approval of shareholders at the ensuing 31st Annual General Meeting, a dividend of Rs 3/- per fully paid up an equity share of Rs 10/- each, aggregating to Rs 546 lakh payout including dividend distribution tax for the year ended 31st March 2019."

RIlL provides 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 Ltd.

"RIIL presently does not have any expansion plans on the anvil," the statement added.