Reliance Industrial Infra posts 110 pc rise in net profit in 2022-23

MUMBAI: Reliance Industrial Infrastructure Limited on Thursday reported its financial results for March ended quarter and the entire fiscal year 2022-23.

The company's total income, in consolidated terms, during the quarter and the entire financial year was Rs 2080 lakh and Rs 8093 lakh, up one per cent on a quarterly basis and steady for entire fiscal, it said in a release.

Further, its net profit during the quarter and the entire year was Rs 1154 lakh and Rs 1756 lakh, up 983 per cent and 110 per cent respectively.

The release said that income from Product Transportation Service increased to Rs 833.09 lakh from Rs 827.27 Lakh.

Income from Other Support Services increased to Rs 541.95 lakh from Rs 482.89 lakh and income from hiring construction machineries decreased to Rs 388.05 lakh from Rs 417.39 Lakh.

Other income decreased to Rs 317.74 Lakh from Rs 332.59 Lakh. "

Net Profit (including exceptional items) increased to Rs 1,154.29 Lakh from Rs 235.67 Lakh," the release said.

It said that total Income is Rs 2,080.83 Lakh as compared to Rs 2,060.14 Lakh on Q-o-Q basis. Income from Product Transportation Service increased to Rs 833.09 lakh from Rs 827 .27 Lakh and income from Other Support Services increased to Rs 541.95 lakh from Rs 482.89 Lakh.

Income from Hiring Construction Machineries decreased to Rs 388.05 lakh from 417.39 Lakh.

Other income decreased to Rs 317.74 Lakh from Rs 332.59 Lakh.

Net profit (including exceptional items) increased to Rs 1,068.39 Lakh from Rs 190.43 lakh The Board of Directors have recommended, subject to the approval of shareholders at the ensuing 35th Annual General Meeting, a dividend of Rs 3.50, aggregating to Rs 528.50 lakh for the financial year ended March 31, 2023.

The release said the company continues to provide infrastructure support services namely transportation of petroleum products and raw water through pipelines, construction machinery on hire, and other support services to Reliance Industries Group, with a substantial portion provided to Reliance Industries Limited.