Piramal Enterprises Q1 net profit jumps 21% to ?461 crore

Piramal

Piramal Enterprises Ltd on Tuesday reported a 21% jump in June-quarter net profit from a year ago due to high revenue and a fall in other expenses. Consolidated net profit for the quarter stood at ?461 crore, against ?382 crore a year ago.

Revenue rose 21% to ?3,506 crore during the first quarter, from ?2,902 crore in the same quarter last year. Other expenses fell 2% to ?1,400 crore.

The company said its total loan book grew 20% year-on-year to ?56,605 crore. Housing finance loan book, which constitutes 11% of the company’s overall loan book, grew four times to ?6,110 crore from the year ago.

In the pharma segment, revenue grew 12% to ?1,173 crore, while healthcare insights and analytics’ revenue rose 15% to ?319 crore during the quarter. Global Pharma EBITDA margins stood at a robust 22% during the quarter.

The company said it cleared seven regulatory inspections (including 2 USFDA inspections at its key facilities at Bethlehem and Lexington) and 41 customer audits during the June quarter.

Shares of Piramal Enterprises were trading at ?1,805.20 on the BSE, up 0.8% from its previous close, while the Sensex fell 0.38% to 37,544.25.

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