Piramal Enterprises posts Q1 net profit of Rs 202.74 cr

Piramal Enterprises today reported consolidated net profit of Rs 202.74 crore for the first quarter ended June 30.
The company had posted a net profit after taxes, minority interest and share of profit of associates of Rs 2,896.32 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in filing to BSE.
Consolidated total income from operations of the company stood at Rs 1,473.59 crore during the quarter under consideration. It was Rs 1,182.13 crore during the same period, a year ago.
"The figures for the quarter ended June 30, 2015 are not comparable to the previous quarter ended June 30, 2014 on account of various acquisitions and divestitures," Piramal Enterprises said.

Commenting on the results, Piramal Enterprises Ltd Chairman Ajay Piramal said: "Post we crossed the inflection point in our profitability during the last fiscal year, we have continued our momentum of delivering significant bottom- line performance during the quarter."
Exceptional loss of Rs 2.6 crore was reported during the quarter on account of loss on sale of clinical research business in April 2015. Exceptional gain in the same period of the previous fiscal primarily included gain on sale of 11 per cent stake in Vodafone India for Rs 8,900 crore, Piramal Enterprises said.
Shares of Piramal Enterprises today closed at Rs 931 per scrip on BSE, down 1.23 per cent from its previous close.