Piramal Enterprises gains on Q4 numbers

The stock has jumped by 4.2% at Rs 992 on the BSE.

 

Piramal Enterprises has jumped by 4.2% at Rs 992 on the BSE after reporting a consolidated net profit of Rs 95.40 crore for the quarter ended March 31, 2015, mainly on account of improved performance across business segments. The company had posted a net loss of Rs 311.35 crore for the corresponding period of last fiscal, Piramal Enterprises said in a filing to the BSE.

The consolidated net profit for the fiscal year ended March 31, 2015, stood at Rs 2,849.95 crore against a net loss of Rs 501.41 crore in 2013-14.

The Board has recommended a dividend of Rs 20 per share.

Commenting on the results, Piramal Enterprises Ltd Chairman Ajay Piramal said: "The company had reached an inflection point in its profitability. Value-accretive growth across business segments has enabled us to deliver a robust and sustainable growth in profits for the year."

The stock opened at Rs 975 and has hit a low of Rs 956 and a high of Rs 998 on the BSE thus far.