Piramal Enterprises hits new high on strong Q4 results

Thus far in 2016, the stock outperformed the market by gaining 32% as compared to 1.4% decline in Sensex.

Piramal Enterprises has gained 4% to Rs 1,324, also its record high on the BSE, after the company reported a robust 89% year on year rise in its consolidated net profit at Rs 180 crore for the fourth quarter ended March 31, 2016 (Q4FY16).

The company said healthy profitability was mainly on account of improved performance across business segments and lower research & development expenses.

The company’s consolidated revenues grew 34% to Rs 1,734 crore for Q4FY16 from Rs 1,298 crore in the corresponding quarter of previous fiscal.

Ebitda (earnings before interest, taxes, depreciation and amortization) margin stood at 27% in Q4FY16 against 15% in Q4FY15.

Piramal Enterprises is one of India’s large diversified companies, with a presence in healthcare, healthcare information management and financial services.

Thus far in 2016, the stock outperformed the market by gaining 32% as compared to 1.4% decline in the S&P BSE Sensex.

At 10:13 am, the stock was up 3.5% at Rs 1,317 with a combined 104,300 shares changed hands on the counter on the BSE and NSE.