Piramal Enterprises Ltd (PEL), which has a predominant interest in pharma and financial services, posted a 6.6 per cent rise in profit before tax (PBT), at Rs 954 crore, for the third quarter ended December 2019.
It had posted a PBT of Rs 895 crore in the corresponding quarter last financial year.
The firm's net profit was up 20 per cent to Rs 724 crore during Q3FY20 from Rs 602 crore in Q3FY19.
Its revenues rose by nine per cent to Rs 3,806 crore during Q3FY20 from Rs 3,489 crore in Q3FY19.
The Piramal Enterprises stock closed 6.1 per cent up, at Rs 1,419.35 per share on BSE.
The company said in a statement that it is transforming the financial services business into a diversified model across both wholesale and retail financing.
The loan book shrunk to Rs 51,429 crore in December 2019 from Rs 55,255 crore in December 2018. The loan book was Rs 53,055 crore as of September-2019, amid reduction of large-single-borrower exposures. The share of retail loans in overall loan book rose to 12 per cent in reporting quarter from 4 per cent a year ago quarter.
The asset quality came under pressure with rise in the gross non-performing asset (GNPA) ratio of 1.8 per cent as of December 2019, up from 0.5 per cent in December 2018. Gross NPAs were at 0.9 per cent as of September 2019.
The pharma business recorded a 13 per cent year-on-year rise in net sales to Rs 1307 crore for the quarter ended December 2019. Of this, the global pharma business sales stood at Rs 1193 crore while the India consumer business clocked a net sales of Rs 114 crore.
The pharma business clocked a 61 per cent YoY rise in earnings before interest, tax, depreciation and amortisation (Ebita) during the December quarter to Rs 412.35 crore.
No comments:
Post a Comment