Active Stocks
Fri Apr 19 2024 14:45:51
  1. Tata Steel share price
  2. 161.95 1.22%
  1. Tata Motors share price
  2. 960.60 -1.11%
  1. NTPC share price
  2. 350.75 -0.18%
  1. ITC share price
  2. 425.35 1.53%
  1. Infosys share price
  2. 1,415.75 -0.34%
Business News/ Markets / Stock Markets/  Piramal Enterprise Q4: NBFC posts net loss of 196 cr, dividend declared
BackBack

Piramal Enterprise Q4: NBFC posts net loss of ₹196 cr, dividend declared

The company's board has recommended a dividend of ₹31 per share

Ajay Piramal, Chairman, Piramal Enterprises LtdPremium
Ajay Piramal, Chairman, Piramal Enterprises Ltd

Piramal Enterprises on Friday reported a net loss of 196 crore for the quarter ended March 2023. This is against a net profit of 150.53 crore in the year ago period.

The firm said that the net loss was ‘led by MTM loss of 375 Cr on Shriram investments.’

The company's board has recommended a dividend of 31 per share, subject to shareholders’ approval at the AGM. The total dividend pay-out would be 740 crore.

The net interest income was down by 4 per cent to 1,128 crore from 1,172 crore in the year ago period.

“We are pleased with our resilient performance amid macroeconomic and geopolitical headwinds. India continues to remain a relative “bright spot" in the world and will likely contribute significantly to global growth in the coming years. In Retail, we have achieved substantial growth and this business now contributes to 50% of our AUM. We are consciously pivoting to a technology-led multi-product strategy to continue building a large diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth," said Ajay Piramal, Chairman, Piramal Enterprises Ltd.

The total assets under management (AUM) stood at 63,989 crore; retail lending grew to 50% of AUM, from 33% in FY22.

The retail AUM grew 49% YoY to Rs32,144 crore while quarterly disbursements grew 34% QoQ and 361% YoY to 6,828 Cr in the Retail business.

The wholesale AUM reduced by 33% YoY to 29,053 crore.

The quarterly disbursements grew 34% QoQ and 361% YoY to 6,828 crore, while housing disbursements grew 309% YoY to Rs2,412 crore.

On Friday, the company's scrip ended 2.87 per cent down at 735.5 on BSE. 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 05 May 2023, 04:51 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App