Piramal Enterprises net up 60% in Q1

Mumbai Aug 1 (IANS) Piramal Enterprises Ltd on Tuesday reported a consolidated net profit of Rs 350 crore for the first quarter of 2017-18 registering a 60 per cent annual growth from Rs 219 crore over the same period a year ago.

In a regulatory filing on the BSE the Piramal group s flagship company said revenue from operations for the quarter under review grew 27 per cent annually to Rs 2 254 crore from Rs 1 776 crore in the like period a year ago.

On standalone basis net profit for Q1 however plunged a whopping 84 per cent to Rs 42 crore from Rs 258 crore a year ago while revenue declined 40 per cent annually to Rs 621 crore from Rs 1 041 crore a year ago.

Sequentially consolidated net profit declined 12.3 per cent from Rs 399 crore a quarter ago and revenue dipped 8.5 per cent from Rs 2 463 crore a quarter ago.

On standalone basis net profit however zoomed 289 per cent sequentially from Rs 11 crore a quarter ago but revenue dipped 34 per cent sequentially from Rs 936 crore a quarter ago.

--IANS
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