BackPiramal Enterprises profit rises 6 times on DRG income
Profit rises to Rs63.8 crore in the quarter ended December from Rs9.7 crore a year earlier
Premium(Hemant Mishra/Mint)
Mumbai: Piramal Enterprises Ltd, earlier known as Piramal Healthcare Ltd, posted a sixfold growth in net profit due to the revenue it earned from newly acquired foreign information management company Decision Resources Group.
Profit rose to Rs63.8 crore in the quarter ended December from Rs9.7 crore a year earlier.
Currently a diversified group engaged in the businesses of pharmaceuticals, financial services and information management, Piramal Enterprises acquired the US-based pharmaceutical research and market data management company Decision Resources in May 2012.
The company’s revenue was included in that of Piramal Enterprises for the first time after the business integration. Decision Resources contributed Rs265 crore to the parent’s revenue during the quarter. The pharma and financial services businesses grew 14% and 42%, respectively.
Piramal Enterprises’ total income rose 60.9% to ₹ 93.6 crore from ₹ 17.6 crore. On Monday, Piramal Enterprises rose 1.13% to ₹ 555, while the benchmark Sensex fell 0.12% to close at 19,460.57 points.
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