Reliance Infrastructure Profit Slump: 24% Decline in Q3

Reliance Industrial Infrastructure Ltd reported a 24% drop in Q3 net profit, attributed to lower asset utilisation. Profit fell from Rs 3.62 crore to Rs 2.74 crore, with revenue also down 9.4% to Rs 18.60 crore. The firm continues to offer infrastructure support services, with no current expansion plans.

Reliance Industrial Infrastructure Ltd experienced a significant profit slump in the third quarter, with net figures showing a 24 percent decrease owing to reduced utilisation of infrastructure assets. This fall reflects a broader economic trend affecting infrastructure industries.

In its fiscal report for October to December, the net profit stood at Rs 2.74 crore, down from Rs 3.62 crore the previous year. Likewise, revenue saw a 9.4 percent decrease, settling at Rs 18.60 crore compared to Rs 20.52 crore during the same period in 2023.

The company continues providing essential infrastructure support services, primarily transporting petroleum products and raw water through pipelines. Despite the financial downturn, there currently are no plans for expansion on the horizon.

(With inputs from agencies.)