Piramal Enterprises today reported a consolidated net loss of Rs 69.81 crore for the first quarter ended June 30 on account of one time non-cash accounting charge towards imaging business.
The company had posted a net profit of Rs 302.23 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in a BSE filing.
Consolidated revenue from operations of the company rose by 29 per cent to Rs 2,902.49 crore for the quarter under consideration as against Rs 2,254.07 crore for the same period a year ago.
During the quarter, the company sold the imaging business to Alliance Medical Group. Upon the sale of this business, there was a non-recurring and non-cash accounting charge of Rs 452 crore towards imaging assets, Piramal Enterprises said.
Piramal Enterprises Chairman Ajay Piramal said: "We have commenced the new fiscal year with strong financial performance on the back of robust growth across all our businesses."
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