The credit cost of the company increased to 1.9 per cent from 1.6 per cent in Q2 FY25
The company may also receive further amounts in subsequent years from any eligible profits and future earnouts relating to the Imaging Group, subject to a maximum of $200 million
Shares of Piramal Enterprises gained up to 4.80 per cent at Rs 390.45 per share on the BSE in Monday's intraday trade
Counterbids for the two pools of bad loans are being invited separately by the non-banking finance company, with the condition that all bids must be on a "full cash" basis
Non-bank lender Piramal Enterprises on Wednesday said its September quarter net profit tripled to Rs 163 crore on a low base, but flagged risks from the "precarious" credit environment. The city-headquartered entity had reported a profit of Rs 48 crore in the year-ago period, and Rs 181 crore in the preceding June quarter. Its core net interest income was up 17 per cent to Rs 881 crore, while recoveries of Rs 181 crore from alternate investment fund investments in the first half of the fiscal helped the other income grow by 56 per cent to Rs 257 crore. Net interest margin went up to 5.1 per cent from 4.7 per cent in the year-ago period on a shift in the loan base towards what the company defines as growth assets. Managing Director of Piramal Capital and Housing Finance Jairam Sridharan however said that chances of a further upside are slim, and the number may narrow as well in the future. Gross non performing assets ratio moved up to 3.1 per cent from 2.7 per cent, and Sridharan s
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The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals
Stocks to watch on August 19: The promoters of the company have announced that on August 16, 2024, an entity within the Promoter Group acquired 616,615 equity shares of Piramal Enterprises
The net interest margin (NIM) of the finance company dropped to 6.7 per cent compared to 7.3 per cent in the last year.
The retail AUM, which accounts for 72 per cent of the total AUM, increased by 43 per cent Y-o-Y to Rs 50,000 crore
Piramal Enterprises on Tuesday reported a 64 per cent decline in its June quarter net profit to Rs 181 crore, impacted because of a higher base due to a one-off item last year. The city-headquartered non-bank lender had reported a consolidated net profit of Rs 509 crore in the year-ago period. Its managing director and chief executive Jairam Sridharan said the year-ago performance included a Rs 850 crore benefit from a stake sale in a Shriram Group entity, and added that the performance has been stable in the reporting quarter this year. The core net interest income grew 18 per cent to Rs 807 crore on the back of a 10 per cent increase in the overall assets under management to Rs 70,576 crore, while the net interest margin narrowed to 6.7 per cent from 7.3 per cent in the year-ago period. Sridharan said disbursements were impacted in the June quarter due to regulatory changes around fair practices but exuded confidence that the company will be able to meet its FY25 target of 15 per