Piramal Enterprises' net up 60% in Q1

Piramal Enterprises Ltd on Tuesday reported a consolidated net profit of Rs 350 crore for the first quarter of 2017-18, registering a 60 per cent annual growth from Rs 219 crore over the same period a year ago.

In a regulatory filing on the BSE, the Piramal group's flagship company said revenue from operations for the quarter under review grew 27 per cent annually to Rs 2,254 crore from Rs 1,776 crore in the like period a year ago.

On standalone basis, net profit for Q1, however, plunged a whopping 84 per cent to Rs 42 crore from Rs 258 crore a year ago, while revenue declined 40 per cent annually to Rs 621 crore from Rs 1,041 crore a year ago.

Sequentially, consolidated net profit declined 12.3 per cent from Rs 399 crore a quarter ago and revenue dipped 8.5 per cent from Rs 2,463 crore a quarter ago.

On standalone basis, net profit, however, zoomed 289 per cent sequentially from Rs 11 crore a quarter ago but revenue dipped 34 per cent sequentially from Rs 936 crore a quarter ago.

--IANS

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