OPEN APP
Home >Companies >Company Results >Piramal Enterprises Q2 net profit up 15.3% to 554 crore

MUMBAI : Ajay Piramal-led Piramal Enterprises Ltd (PEL) reported a 15.3% increase in its net profit to 554 crore for the September ended quarter on the back of a robust performance in its pharma and healthcare business.

The Mumbai-based diversified conglomerate, which has businesses across financial services, pharma, real estate, among others, saw its revenue jump 18% to 3603.56 crore during the reporting quarter.

“Our diversified business model has enabled us to deliver resilient performance during this quarter, despite continued liquidity tightening in the NBFC (non-banking financial company) sector," Piramal said in a statement.

PEL’s pharma business grew 19% to 1316 crore, while its India consumer products vertical sustained its strong recovery with revenue growth of 39% to 112 crore during the September quarter, the company said. Besides, revenue of healthcare insights and analytics grew 14% to 333 crore.

"Pharma and healthcare insights businesses continue to consistently deliver strong performance quarter on quarter, acting as a natural hedge and bringing stability to the company’s performance, even in the most volatile market environment," he said.

During the reporting quarter, PEL’s financial services grew 13% to 1,954 crore. The company’s total loan book as of September stood at 53,055 crore. Its housing finance loan book grew three fold to 6,393 crore.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout