Reliance Industrial Infrastructure Q2 results tomorrow; check key details ahead of earnings

In a stock exchange notification last week, RIIL informed the bourses about its upcoming board meeting to consider the Q2 results.

“A meeting of the Board of Directors of the company is scheduled to be held on Friday, October 11, 2024, inter-alia, to consider and approve the un-audited standalone and consolidated financial results of the company for the quarter and half year ended September 30, 2024.”

Reliance Industrial Infrastructure is mainly engaged in setting up and operating industrial infrastructure. It continues to provide infrastructure support services, mainly to its group company, Reliance Industries Ltd (RIL).

RIIL’s main activities are providing transportation services for petroleum products and raw water through its pipelines, providing construction machinery on hire, and offering other infrastructure support services.

The company mentioned in its Q1FY25 earnings press release that presently it does not have any expansion plans on the anvil. However, the investors will keep a watch on the company’s new projects, debt levels and other key metrics like revenue, profit and margins in the Q2 results tomorrow.

RIIL results in Q1FY25

RIIL had seen a rough patch in the previous quarter ended June 2024 (Q1FY25). The company’s consolidated total income stood at ₹12.4 crore, down 13.1% as compared to ₹14.2 crore in Q1FY24 on account of lower utilisation of infrastructure assets. Compared with the previous quarter, total income was down 14.5% from ₹14.5 crore in Q4FY24.

Its consolidated net profit stood at ₹2.9 crore in Q1 FY25, up 3% as compared to ₹2.8 crore in the same period a year ago. Sequentially, net profit was down 21% from ₹3.7 crore in Q4FY24.

Debt levels

RIIL’s press release dated September 18, 2024, noted that the company has managed to reduce its debt considerably. RIIL’s external debt liability is down to ₹475 crore. Consequently, the net worth of the company stands at around ₹9,041 crore.

RIIL share price

The RIIL stock has been under pressure in the past few months. On Thursday, RIIL shares gained as much as 2.33% to hit an intraday high of ₹1,199.7 on the NSE. The stock closed 0.91% higher at ₹1,183 per share.

However, over the past five sessions, the stock has risen just 1.6%, while it is up 2% in the past month. Year-to-date, RIIL shares are down 16%, but they are up over 21% in the past one year.

Shares of Reliance Industrial Infra were trading 0.89% higher at ₹1,182.75 apiece on the NSE at 11:52 am.