Piramal Ent surges 5%; m-cap rises by Rs 1,108 cr post Q4 nos

Shares of Piramal Enterprises ended 5 per cent higher on Tuesday after the company reported an 89 per cent jump in net profit for the March quarter.
After surging 9 per cent to Rs 1,386.75 -- its 52-week high -- in intra-day trade, shares of the company finally ended at Rs 1,335.95, up 5.05 per cent on BSE.
At NSE, the stock went up by 4.9 per cent to close at Rs 1,334.75.
The company added Rs 1,108.57 crore to reach Rs 23,053.57 crore in market valuation.
Piramal Enterprises yesterday reported an 89 per cent jump in net profit at Rs 180 crore for the March quarter compared to Rs 95 crore in the same period last year, following strong revenue growth across businesses.

The company reported a 34 per cent increase in revenue at Rs 1,734 crore during the March quarter as against Rs 1,298 crore during the corresponding period last year.
The revenue for 2015-16 fiscal stood at Rs 6,610 crore, up 29 per cent from 2014-15. Its net profit, however, declined sharply by 67 per cent at Rs 951 crore for 2015-16 as against Rs 2,850 crore in the previous year.