Piramal Enterprises posts Q4 loss of Rs 196 cr on MTM hit of Rs 375 cr

Piramal Enterprises (PEL) suffered a loss of Rs 196 crore, on consolidated basis, in the fourth quarter ended March 2023 due to mark-to-market (MTM) hit of Rs 375 crore on investment in equity of Shriram group entity.

PEL, a diversified finance company, had posted a net profit of Rs 151 crore in the fourth quarter of last financial year (Q4FY22). For FY23, its net profit posted almost five-fold growth at Rs 9,969 crore as against Rs 1,999 crore for FY22.
 

Jairam Sridharan is the Managing Director,  Piramal Capital & Housing Finance (PCHFL) told media that the loss on Shriram Investments has partly gone away after March 31, 2023. The board has recommended a dividend of Rs 31 per share, subject to shareholders’ approval. The total dividend pay-out would be Rs 740 crore, according to filing.  ABHIJIT LELE