Companies

PEL reports Q4 net loss of ₹510.39 crore

Our Bureau Mumbai | Updated on May 13, 2021

However, the company made profit of ₹1,412.86 crore for FY2020-21

Piramal Enterprises Ltd (PEL) reported a consolidated net loss of ₹510.39 crore for the fourth quarter of 2020-21 as against a net loss of ₹1,702.59 crore in the same period a year ago.

However, for the full fiscal 2020-21, PEL reported a consolidated net profit of ₹1,412.86 crore as against ₹21.14 crore a year ago.

Its revenue from operations for the quarter ended March 31, rose marginally by 1.8 per cent to ₹3,401.56 crore from ₹3,341 crore a year ago.

Total income fell to ₹3,565.98 crore in the fourth quarter last fiscal versus ₹3,580.55 crore a year ago.

Ajay Piramal, Chairman, PEL said, “PEL has delivered steady performance with revenues of ₹12,809 crore and net profit of ₹1,413 crore for 2020-21, reflecting strong resilience during a phase of prolonged macro-economic challenges.”

In the financial services segment, its net sales declined 14 per cent to ₹1,478 crore in the January to March quarter as against ₹1,718 crore a year ago.

“The resolution plan for Dewan Housing Finance Corporation Ltd (DHFL) has received approvals from the Reserve Bank of India in February 2021 and Competition Commission of India in April 2021,” PEL said in a statement

In the pharma business, net sales grew by 19 per cent to ₹1,923 crore in the fourth quarter last fiscal from ₹1,623 crore in the previous fiscal.

The board of PEL has recommended a dividend of ₹33 per share for the approval of the shareholders in the annual general meeting. The total dividend payout on this account would be ₹788 crore.

Published on May 13, 2021

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