Reliance Industrial Infra posts 983% jump in Q4 net profit at Rs 11.54 crore; declares dividend

RIIL's net profit for the entire FY23 surged by 106%

Reliance Industrial Infrastructure Ltd (RIIL) reported a massive 983 percent on-year jump in the net profit clocked during the fourth quarter of fiscal year 2022-23, at Rs 11.54 crore, as per the results declared by the small-cap company on April 20.

In the corresponding period of the FY22, RIIL had reported a net profit of Rs 1.06 crore.

The net profit recorded in Q4FY23 is also 390 percent higher sequentially, as the same stood at Rs 23.5 crore in the third quarter.

For the entire fiscal, the company's net profit came in at Rs 15.58 crore, which is more than double as compared to Rs 7.55 crore clocked in FY22.

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RIIL, based on the recommendation of its board, has also declared a dividend of Rs 3.50 per fully paid-up equity share of Rs 10 each, aggregating to Rs 5.28 crore, for the financial year ended March 31, 2023.

The company's total income during the fourth quarter increased by 6 percent on-year to Rs 20.80 crore, as against Rs 19.65 crore in the year-ago period.

Sequentially, the total income was nearly flat, as it stood at Rs 20.60 crore in Q3FY23.

For the entire FY23, RIIL posted a total income of Rs 80.93 crore, which was almost similar to Rs 80.99 crore reported in the preceding fiscal.

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RIIL, which continues to provide infrastructure support services to the Reliance Industries Group, "presently does not have any expansion plans on the anvil", a press release noted.

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