Reliance Industrial Infra Q1 profit slips over 10 percent, new CFO takes over

Mumbai: Reliance Industrial Infrastructure Ltd (RIIL) has reported 10.4 per cent decline in its net profit for the first quarter (April to June) of current financial year 2019-20.

The company said the net profit declined to Rs 1.72 crore from Rs 1.92 crore in the corresponding period of previous fiscal. "During the quarter ended June 30, RIIL's total income was Rs 24.32 crore as compared to Rs 24.94 crore achieved in the corresponding period of previous year," the company said in a statement.

"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 Limited," it said. "RIIL presently does not have any expansion plans on the anvil." In another statement, RIIL said Chief Financial Officer Salil Mishra has left the organisation. The board of directors has appointed Krimesh Divecha in his place.

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