Piramal clocks ₹249 cr profit in third quarter

Our Bureau Mumbai | Updated on January 24, 2018

Piramal Enterprises Ltd has clocked a net profit of ₹249 crore for the three months ended December 31, 2014, compared to a loss of ₹11 crore in the corresponding period last year.

Its revenues grew 9 per cent at ₹1,399 crore during the third quarter in FY2015.

Strong performance

Ajay Piramal, Chairman, said in a statement, “Our diversification across businesses and geographies and our successful organic and inorganic growth strategy, has enabled us to continue to deliver strong financial performance, despite volatile global economic environment.

“We remain committed to our approach of efficiently allocating capital while undertaking controlled risk, to consistently generate higher profitability and deliver superior shareholder returns.”

The company, with a presence in healthcare, financial services and information management, said that it grew on the back of a strong operating performance.

Its loan book grew 52 per cent over last year to ₹3,933 crore, fund management AUM grew 58 per cent over last year to ₹7,286 crore.

The company launched Sevoflurane in Australia, Saudi Arabia and Germany and continued to gain its market share in the US, Europe and Japan, it said.

And its contract manufacturing plant at the Morpeth site successfully completed a US FDA audit with zero regulatory 483 observations, the note said.

Published on February 09, 2015

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