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Piramal Enterprises Ltd announces Q2, H1 FY 2019-20 results

Posted On: 2019-10-22 13:05:01

Piramal Enterprises Limited ('PEL', NSE: PEL, BSE: 500302) has announced its consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30th September 2019.

Financial Highlights

Revenue:

- Up 15% at INR 3,604 Crores during Q2 FY2020 vs INR 3,144 Crores in Q2 FY2019
- Up 18% at INR 7,110 Crores during H1 FY2020 Vs INR 6,047 Crores in H1 FY2019

Profit before Tax & Exceptional items

- Up 29% to INR 733 Crores in Q2 FY2020 vs. INR 570 Crores in Q2 FY2019
- Up 25% to INR 1,338 Crores in H1 FY2020 vs. INR 1,073 Crores in H1 FY2019

Net Profit1:

- Up 18% to INR 569 Crores in Q2 FY2020 vs. INR 480 Crores in Q2 FY2019
- Up 19% at INR 1,029 Crores during H1 FY2020 vs INR 863 Crores in H1 FY2019

Note: 1) Net Profit excludes exceptional gain/loss for the period

Mr. Ajay Piramal, Chairman, Piramal Enterprises Ltd. said, "Our diversified business model has enabled us to deliver resilient performance during this quarter, despite continued liquidity tightening in the NBFC sector. The strong fundamentals of the Company are reflected in our H1 and Q2 results:

- H1 FY2020 revenues grew by 18% YoY to INR 7,110 Crores and net profit by 19% YoY to INR 1,029 Crores
- Q2 FY2020 revenues grew by 15% YoY to INR 3,604 Crores and net profit by 18% to INR 569 Crores

Our Financial Services business received inflows of ~INR 45,000 Crores over the past year and brought down CP borrowings by 92% to ~INR 1,480 Crores, reflecting the quality of our underwriting, client selection and risk management practices.

Pharma and Healthcare Insights businesses continue to consistently deliver strong performance quarter on quarter, acting as a natural hedge and bringing stability to the company's performance, even in the most volatile market environment. Our Pharma revenues grew 19% YoY to INR 1,316 Crores in Q2:

- The Global Pharma business delivered strong EBITDA margins of 24%
- India Consumer Products business sustained its strong recovery with YoY revenue growth of 39% in Q2
- Healthcare Insights & Analytics business also grew by 14% to INR 333 Crores, delivering an EBITDA margin of 24% in Q2

We remain committed to bring in additional equity in the company in the near future, which will further bolster our plans to tap both organic and inorganic opportunities across our businesses."

Consolidated Revenues:

Consolidated revenues increased by 15% YoY to INR 3,604 Crores for Q2 FY2020 and 18% YoY to 7,110 Crores for H1 FY 2020. 38% of our revenues were earned in foreign currency for H1 FY2020.

Profit before Tax and Exceptional Items:

Profit before tax and exceptional items increased by 29% YoY to INR 733 Crores for Q2 FY2020 and it increased by 25% YoY to INR 1,338 Crores for H1 FY2020.

Net Profit (excluding exceptional item):

Net Profit (excluding item) increased by 18% YoY to INR 569 Crores for Q2 FY2020 and it increased by 19% YoY to INR 1,029 Crores for H1 FY2020.

Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.1556.35 as compared to the previous close of Rs. 1467.95. The total number of shares traded during the day was 138450 in over 6349 trades.

The stock hit an intraday high of Rs. 1577.3 and intraday low of 1443.25. The net turnover during the day was Rs. 211192445.


Source: Equity Bulls

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