Reliance Industrial Infra slips after weak Q2 outcome

Reliance Industrial Infrastructure fell 1% to Rs 486 at 9:30 IST on BSE after net profit fell 8% to Rs 5.43 crore on 18.3 % rise in total revenue to Rs 25.95 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours on Friday, 10 October 2014.

Meanwhile, the BSE Sensex was down 152.04 points, or 0.58%, to 26,145.34.

On BSE, so far 7,239 shares were traded in the counter, compared with an average volume of 1.09 lakh shares in the past one quarter.

The stock hit a high of Rs 491.30 and a low of Rs 485.50 so far during the day. The stock hit a 52-week high of Rs 659 on 6 June 2014. The stock hit a 52-week low of Rs 304 on 17 October 2013.

The stock had underperformed the market over the past one month till 10 October 2014, falling 17.12% compared with 2.81% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 15.44% as against Sensex's 3.64% rise.

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

Reliance Industrial Infrastructure's (RIIL) profit before depreciation, interest, and taxes (PBDIT) fell 8.7% to Rs 8.94 crore in Q2 September 2014 over Q2 September 2013.

RIIL said it continues to provide select infrastructure support services namely transportation of petroleum products and water through pipelines, construction machinery on hire, IT support services and finance lease exclusively to the Reliance Industries Group, with a substantial portion provided only to Reliance Industries (RIL)

RIIL presently does not have any expansion plans on the anvil, it said.

Reliance Industrial Infrastructure, 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. The company has its operations in the Mumbai and the Rasayani regions of Maharashtra, Surat and Jamnagar belts of Gujarat as also at other places in India.

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