Piramal Enterprises Q3 net profit up 21% to Rs490 crore
Piramal Enterprises’ consolidated revenue from operations rose to Rs2,858.36 crore for the December quarter , against Rs2,341.74 crore in the same period a year ago
New Delhi: Piramal Enterprises on Tuesday reported 21.37% rise in consolidated net profit to Rs490.47 crore for the December quarter on robust performance in financial services and pharmaceutical verticals.
The company had posted a net profit of Rs404.08 crore in the year-ago period, Piramal Enterprises said in a filing to BSE.
Consolidated revenue from operations also rose to Rs2,858.36 crore for the quarter under review, against Rs2,341.74 crore in the same period a year ago.
“The company announced 22% growth in total revenues at Rs2,858 crore and 21% increase in net profit at Rs490 crore for the third quarter of 2017-18,” chairman Ajay Piramal said.
The consistency in the company’s performance is an outcome of the robust business model and sharp focus on quality, compliance, legal and risk mitigation across the businesses, he added.
“Nearly Rs7,000 crore of capital, which we are in the process of raising from existing and new top quality global and domestic investors, will play an instrumental role in achieving ambitious growth plans across our businesses operating in financial services and pharmaceutical sectors,” Piramal said.
Shares of Piramal Enterprises were trading at Rs2,783.40 per scrip on BSE, down 0.62% from the previous close.
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