RIIL's Q4 net profit rises by over 140%

Mumbai, April 14 : Reliance Industrial Infrastructure Ltd (RIIL) on Friday reported an exponential rise of 140.1 per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 7.30 crore from Rs 3.04 crore reported for the corresponding quarter of 2015-16.

According to the company, its total revenue including 'Other Income' for the quarter under review increased by 22.33 per cent to Rs 30.90 crore from Rs 25.26 crore earned during the fourth quarter of 2015-16.

Besides, the company reported an increase of 5.12 per cent in its net profit for the entire financial year 2016-17 to Rs 16.42 crore from Rs 15.62 crore in 2015-16.

In addition, RIIL's total revenue including 'Other Income' for the financial year under review increased by 7.8 per cent to Rs 108.82 crore from Rs 100.96 crore earned during 2015-16.

The company also said that its Board of Directors has recommended a dividend of Rs 3.50 per fully paid up equity share of Rs 10 each, aggregating to Rs 6.36 crore pay out including dividend distribution tax for the year ended March 31st, 2017, which is subject to shareholders' approval.

"RIIL continues to provide 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," the company said in a regulatory filing to the BSE.

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