Piramal net profit up 8 percent to Rs 534 crore in Q1
New Delhi: Piramal Enterprises on Friday reported a 7.71 per cent rise in its consolidated net profit to Rs 533.79 crore for the quarter ended on June 30, 2021.
The company had posted a net profit of Rs 495.56 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in a regulatory filing.
Consolidated revenue from operations of the company stood at Rs 2,908.68 crore for the quarter under consideration against Rs 2,937.34 crore for the same period a year ago, it added.
"Despite the impact of the second wave of Covid-19, we have delivered resilient performance during the quarter with revenues at INR 2,909 crores, net profit YoY growth by 8% to INR 534 crores. We continue to maintain a strong balance sheet, with net debt-to-equity ratio at 0.8x," Piramal Enterprises Chairman Ajay Piramal said.
In financial services, the company's resolution plan for DHFL''s acquisition received NCLT''s approval in June 2021. It is on track with the Monitoring Committee mandate for completion of this transaction within 90 days from NCLT approval, he added.
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