Reliance Industrial Infra shrugs off weak Q1 results

Reliance Industrial Infrastructure rose 1.66% to Rs 395.50 at 10:33 IST on BSE after net profit dropped 20.8% to Rs 4.44 crore on 13.9% growth in total revenue to Rs 26.54 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 13 July 2015.

Meanwhile, the S&P BSE Sensex was almost unchanged at 27,961.60.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 85,671 shares in the past one quarter.

The stock hit a high of Rs 400.65 and a low of Rs 390.70 so far during the day. The stock had hit a 52-week high of Rs 612 on 10 September 2014. The stock had hit a 52-week low of Rs 324 on 16 June 2015.

The stock had outperformed the market over the past one month till 13 July 2015, advancing 17.77% compared with the Sensex's 5.81% rise. The scrip had, however, underperformed the market in past one quarter, sliding 10.34% as against Sensex's 3.73% fall.

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

Reliance Industrial Infrastructure (RIIL) attributed the growth in top line in Q1 June 2015 primarily to increase in income from hiring of construction machinery and increase in other income.

RIIL said it 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 (RIL).

RIIL, a Reliance Group company, 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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