Piramal Enterprises Q3 pre-tax profit up 6.6% to Rs 954 cr

Net profit after tax up 20% to Rs 724 cr, revenues rise 9% to Rs 3,806 cr, Gross NPAs up by 1.8%

Piramal Enterprises, having predominant interests in pharmaceuticals and financial services, posted a 6.6 per cent rise in profit before tax at Rs 954 crore for the quarter ended December 2019, compared to the same period a year before. Net profit rose 20 per cent to Rs 724 crore and revenues by 9 per cent to Rs 3,806 crore over the same comparative period. The share price closed on Tuesday at Rs 1,419.35 on the BSE.  The company stated it was changing the financial services business into a diversified model, on both wholesale and retail sides.  The loan book fell to Rs 51,429 crore, from Rs 55,255 crore at end-December 2018 and from Rs 53,055 crore at end-September 2019, with reduction of large single borrower exposures. The share of retail loans (to small borrowers) in the overall loan book rose to 12 per cent, from 4 per cent in the year-ago quarter.