Piramal Enterprises Ltd Q1FY22 consolidated PAT at Rs. 539.40 crores

Piramal Enterprises Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.3011.60 crores during the period ended June 30, 2021 as compared to Rs.3565.98 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.539.40 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(571.21) crores for the period ended March 31, 2021.

The company has reported EPS of Rs.22.54 for the period ended June 30, 2021 as compared to Rs.(24.09) for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 3011.60 crs	₹ 3565.98 crs	-15.55%
Net Profit	₹ 539.40 crs	₹ (571.21) crs	194.43%
EPS	₹ 22.54	₹ (24.09)	193.57%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.3011.60 crores during the period ended June 30, 2021 as compared to Rs.3002.80 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.539.40 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.495.56 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.22.54 for the period ended June 30, 2021 as compared to Rs.20.71 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 3011.60 crs	₹ 3002.80 crs	0.29%
Net Profit	₹ 539.40 crs	₹ 495.56 crs	8.85%
EPS	₹ 22.54	₹ 20.71	8.84%

Ajay Piramal, Chairman, Piramal Enterprises Ltd. said, "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.

In Financial Services, our resolution plan for DHFL's acquisition received NCLT-approval in June-2021. We are on track with the Monitoring Committee mandate for completion of this transaction within 90 days from NCLT approval. After successfully going through the recent consolidation phase, we are now transitioning from a wholesale-led to a well-diversified Financial Services business. The transition augmented by the DHFL acquisition will not only bring quantum growth in our loan book but also create a large India-wide platform that will enable us to deliver sustained growth and profitability in the years to come.

Our Pharma business continues to deliver robust performance during the quarter, with 31% YoY revenue growth, indicating the strength of our business model. In addition, post the capital raise from the Carlyle Group, we have accelerated on our two-pronged strategic growth trajectory though investments in both organic and inorganic initiatives.

While we remain cautiously optimistic for FY22, we see a strong runway for growth across both our businesses. Our immediate focus will be to effectively integrate DHFL with our Financial Services organization. Pursuant to which, we will be better positioned to announce our plan to create two separate listed entities in Financial Services and Pharma."

Shares of Piramal Enterprises Limited was last trading in BSE at Rs. 2601.15 as compared to the previous close of Rs. 2550.05. The total number of shares traded during the day was 115829 in over 4471 trades.

The stock hit an intraday high of Rs. 2615.4 and intraday low of 2524.2. The net turnover during the day was Rs. 299566631.

Source : Equity Bulls

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