Reliance Industrial Infrastructure posts 21% drop in Q1 profit

Income from operations for the quarter rose 10% to Rs 23 cr

Reliance Industrial Infrastructure Ltd on Monday reported 20.8% decline in its June quarter profit from a year earlier on the back of higher total cost and tax expenses.

Net profit fell to Rs 4.44 crore in the three months ended June from Rs 5.60 crore in the year earlier. Income from operations for the quarter rose 9.7% to Rs 23.30 crore from Rs 21.24 crore a year ago. Total costs rose 15.7% to Rs 19.99 crore while total tax outgo jumped five-fold in the quarter to Rs 2.12 crore.

On Monday, shares of Reliance Industrial Infrastructure rose 0.45% to Rs 389.05 on the BSE.