BackPiramal Enterprises Q3 profit at Rs249 crore
Net sales of the firm rose to `1,381.45 crore during the quarter, compared to `1,276.12 crore from a year ago
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New Delhi: Piramal Enterprises Ltd on Monday posted a consolidated net profit of ₹ 249 crore for the December quarter, against a loss of ₹ 11.14 crore in the year-ago quarter. The company cited the turnaround to improved operating performance.
Net sales of the company rose to ₹ 1,381.45 crore during the third quarter of 2014-15, compared to ₹ 1,276.12 crore in the same period of previous fiscal year, Piramal Enterprises said in a filing to the BSE.
“The increase in net profit was mainly on account of improved operating performance, lower interest cost due to reduction in long term debt, exceptional gain and higher share of income from associates, partly offset by marginal increase in depreciation and higher tax expense," it added.
The company’s shares closed at ₹ 844, up 1.20% on the BSE, while the benchmark Sensex fell 1.71% to 28,227.39 points.
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