Reliance Industrial Infra drops after poor Q3 results

Reliance Industrial Infrastructure lost 2.29% to Rs 437.25 at 11:58 IST on BSE after net profit dropped 25.6% to Rs 3.96 crore on 2.6% fall in net sales to Rs 22.13 crore in Q3 December 2015 over Q3 December 2014.

The Q3 result was announced after market hours yesterday, 13 January 2016.

Meanwhile, the BSE Sensex was down 42.76 points, or 0.17% to 24,811.35

On BSE, so far 1.01 lakh shares were traded in the counter as against average daily volume of 1.81 lakh shares in the past one quarter. The stock hit a high of Rs 441.50 and a low of Rs 425.75 so far during the day. The stock had hit a 52-week high of Rs 539.75 on 4 January 2016. The stock had hit a 52-week low of Rs 295 on 25 August 2015. The stock had outperformed the market over the past one month till 13 January 2016, rising 37.26% compared with 0.76% fall in the Sensex. The stock also outperformed the market in past one quarter, gaining 33.15% as against Sensex's 7.42% decline.

The small-cap company has equity capital of Rs 15.10 crore. Face value per share is Rs 10.

Reliance Industrial Infrastructure said that the company 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.

Reliance Industrial Infrastructure is mainly engaged in the business of setting up/operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.

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