Brookfield Infrastructure Partners (NYSE:BIP) has reported its Q4 and 2012 results. For the quarter, the partnership grew its net revenues by 35% on a year-over-year basis, to $244 million. Net income, however, slid by $4 million over that time span, to land at $50 million ($0.25 per unit).

For the full year, net revenues advanced 14% over 2011's figure, to $841 million. But bottom line was 43% lower at $106 million ($0.55 per unit).

Despite the drop in profitability, Brookfield declared an increase in its quarterly distribution. The company will pay $0.43 per unit on March 29 to unit holders of record as of the end of February 28. This is 15% higher than the firm's last payout, which occurred in November.

Fool contributor Eric Volkman has no position in Brookfield Infrastructure Partners. The Motley Fool recommends Brookfield Infrastructure Partners. The Motley Fool owns shares of Brookfield Infrastructure Partners. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.