Piramal Enterprises Q4 net profit rises 61% to ₹311 crore
Piramal Enterprises Q4 profit rises mainly on account of robust growth in all verticals
New Delhi: Piramal Enterprises Friday reported a 61.06% growth in consolidated net profit at ₹ 310.96 crore for the fourth quarter ended March, mainly on account of robust growth in all verticals. The company also appointed Ajay Piramal’s son Anand Piramal non-executive director.
The company had posted a net profit after non-controlling interest, share of profit or loss of associates and joint ventures of Rs193.07 crore for the same period a year ago, Piramal Enterprises said in a filing to the BSE.
Consolidated total income also rose to Rs2,548.96 crore for the quarter under consideration as against Rs1,742.79 a year ago.
For the all of 2016-17, net profit stood at ₹ ,252.33 crore, up from ₹ 904.74 crore in 2015-16.
Total income also rose to ₹ ,780.50 crore for 2016-17, as against ₹ 6,633.14 crore in the year-ago period.
Chairman Ajay Piramal said: “Strong growth across all businesses during the quarter enabled us to deliver the best quarterly performance over the last few years."
The board on Friday also approved raising of funds up to ₹ 5,000 crore through issue of equity shares and/or convertible securities.
In a separate filing, the company said it board has recommended dividend of ₹ 21 per share of face value of ₹ 2 for the financial year ended March.
The stock closed at ₹ 2,609.45 on the BSE, up 2.83% from its previous close.
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