Piramal Enterprises reports 10% rise in Q3 net profit at Rs 799 crore

The company with two prominent business units - finance and pharma - reported a three per cent drop in consolidated revenues at Rs 3,169 crore in Q3FY21

Piramal Enterprises on Thursday reported 10 per cent growth in consolidated net profit at Rs 799 crore for the quarter ended December, 2020 (Q3FY21) as against Rs 724 crore in same quarter previous year (Q3Fy20).

The company's two prominent units--finance and pharma--reported a three per cent drop in consolidated revenues at Rs 3,169 crore in Q3FY21 compared Rs 3,270 crore in Q3FY20.

The net sales of financial services dropped by 9 per cent to Rs 1,795 crore for the quarter ended December, 2020 from Rs 1,963 crore in Q3FY20. The net sales in pharma unit grew by 5 per cent