Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday reported a decline of 64.6 per cent in its consolidated net profit for the fourth quarter (Q4) of FY2021-22 on a year-on-year basis.
The company’s net profit during the quarter under review declined to Rs 1.06 crore from Rs 3 crore in the corresponding period of the previous fiscal.
However, the company’s total income, which includes ‘other income’, rose to Rs 19.65 crore from Rs 18.88 crore reported for Q4FY21.
On a full financial year basis, the company’s consolidated net profit declined to Rs 8.35 crore from Rs 9.64 crore in the corresponding period of the previous fiscal.
In contrast, the company’s FY22 total income which includes ‘other income’ rose to Rs 80.99 crore from Rs 70.09 crore in Q4FY21.
On a standalone basis, RIIL’s Q4FY22 net profit fell by 23.4 per cent to Rs 1.83 crore from Rs 2.39 crore reported for the corresponding period of the previous fiscal.
The standalone net profit for the entire FY22 slipped to Rs 7.55 crore from Rs 7.70 crore reported for Q4FY21.
The company’s board of directors has recommended a dividend of Rs 3 per fully paid up equity share of Rs 10 each, aggregating to Rs 4.53 crore for the financial year ended March 31, 2022.
The decision is subject to the approval of shareholders at the 34th annual general meeting.
“The company has taken into account the impact of Covid-19 in preparation of the financial results, including but not limited to its assessment of liquidity and going concern assumption, recoverable values of its financial and non-financial assets, impact on revenues and on cost budgets,” the company said in the results statement.
“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,” it added.