Piramal Enterprises Ltd Q2 consolidated PAT higher at Rs. 628.31 crore

PIRAMAL ENTERPRISES LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.3339.39 crores during the period ended September 30, 2020 as compared to Rs.3002.80 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.628.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.495.56 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.26.26 for the period ended September 30, 2020 as compared to Rs.20.71 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 3339.39 crs	₹ 3002.80 crs	11.21%
Net Profit	₹ 628.31 crs	₹ 495.56 crs	26.79%
EPS	₹ 26.26	₹ 20.71	26.8%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.3339.39 crores during the period ended September 30, 2020 as compared to Rs.3316.40 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.628.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.551.98 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.26.26 for the period ended September 30, 2020 as compared to Rs.27.01 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 3339.39 crs	₹ 3316.40 crs	0.69%
Net Profit	₹ 628.31 crs	₹ 551.98 crs	13.83%
EPS	₹ 26.26	₹ 27.01	-2.78%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.6342.19 crores during the 6 months period ended September 30, 2020 as compared to Rs.6567.51 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.1123.87 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.1001.01 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.46.97 for the 6 months period ended September 30, 2020 as compared to Rs.48.98 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 6342.19 crs	₹ 6567.51 crs	-3.43%
Net Profit	₹ 1123.87 crs	₹ 1001.01 crs	12.27%
EPS	₹ 46.97	₹48.98	-4.1%

Mr. Ajay Piramal, Chairman, Piramal Enterprises Ltd. said, "We have delivered a resilient performance with net profit of INR 1,124 Crore for H1 FY21, despite adverse global environment. Continuing to focus on strengthening our balance sheet, over the past year, we brought in INR 18,000 Cr of capital and reduced our net debt-to-equity ratio to below 1x.

In Financial Services, we saw early signs of recovery across the key sectors that we lend to. Progressing on the stated strategy of diversifying the loan book, we will be launching our multi-product retail lending platform in November 2020.

The Pharma Business recorded a healthy improvement in both revenue growth and profitability. It also completed the 20% growth investment by The Carlyle Group - which is an affirmation of the robustness of the business model and consistency in performance. Both businesses are now at an inflection point, where we see a good runway for strong performances in the mid to long-term."
Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.1282.05 as compared to the previous close of Rs. 1298.95. The total number of shares traded during the day was 57761 in over 4280 trades.

The stock hit an intraday high of Rs. 1311.35 and intraday low of 1270.1. The net turnover during the day was Rs. 74640191.

Source : Equity Bulls

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