NEW DELHI, Oct 27: Piramal Enterprises today reported 30.18 per cent rise in consolidated net profit to Rs 306.36 crore for the quarter ended September 30, 2016-17, on robust growth in financial services.
It had posted net profit after non controlling interest and share of profit/(loss) of associates and joint ventures of Rs 235.33 crore for the same period of the last fiscal, Piramal said in a filing to BSE.
Its consolidated total income from operations also rose to Rs 1,966.15 crore for the quarter under consideration as against Rs 1,503.59 crore for the year-ago period.
Piramal Enterprises Chairman Ajay Piramal said: “Our business strategy to grow both organically and inorganically, along with strong execution capabilities, enables us to consistently deliver healthy financial results.”
Income from Financial Services was 99 per cent higher at Rs 815 crore for the second quarter of 2016-17 and 98 per cent higher at Rs 1,450 crore for the first half of the current fiscal. The growth was primarily driven by increase in size of Loan Book, the company said.
The Piramal Group’s diversified portfolio includes presence in industries like healthcare, financial services, healthcare information management, glass packaging and real estate.
Shares of Piramal Enterprises were today trading at Rs 1,795 per scrip in the afternoon trade on BSE, down 0.23 per cent from its previous close. (PTI)
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