Piramal Enterprises Q4 profit dives 88 pc to Rs 456 cr

Piramal Enterprises Friday reported 88 per cent plunge in consolidated net profit to Rs 456.24 crore for the fourth quarter ended March 31, 2019.

In the year-ago period, the company had a net profit of Rs 3,943.98 crore on the back of deferred tax, according to a regulatory filing.

These figures are after taking into account tax and share of profit of associates and joint ventures.

In the year-ago period, the company had benefited from a deferred tax of Rs 3,569.18 crore on account of merger of subsidiaries.

Consolidated revenue from operations stood at Rs 3,679.67 crore for March quarter 2018-19 as against Rs 2,991.06 crore in the same period of 2017-18.

Net profit for entire 2018-19 was at Rs 1,470.12 crore as against Rs 5,120.28 crore in the previous year.

Revenue from operations stood at Rs 13,215.34 crore for 2018-19. It was Rs 10,639.35 crore in 2017-18.

The company's board has recommended final dividend of Rs 28 per equity share of face value of Rs 2 each for 2018-19, Piramal Enterprises said.

Shares of Piramal Enterprises were trading at Rs 2,398.85 per scrip on BSE, down 6.12 per cent from the previous close.