Piramal Enterprises share value: Piramal Enterprises tanks 14% after huge This fall loss

Shares of Piramal Enterprises on Tuesday plunged almost 14 per cent after the corporate reported a internet lack of Rs 1,702.59 crore within the quarter ended March 31. On BSE, it plunged 9.99 per cent to Rs 839.05, whereas the scrip of the corporate dived 13.87 per cent to Rs 802.30 on NSE.

The Ajay Piramal-led agency on Monday reported a internet lack of Rs 1,702.59 crore within the quarter ended March 31, primarily on the again of further provisioning in lieu of the challenges posed by the COVID-19 pandemic.

The corporate had reported a internet revenue of Rs 454.63 crore within the corresponding quarter of final fiscal.

Its complete revenue for the quarter additionally declined to Rs 3,341 crore from Rs 3,408.62 crore as the corporate is specializing in deleveraging its enterprise.

“The COVID-19 disaster comes at a time when there may be prevailing slowdown. Due to this fact, the board thought it prudent to make a further provisioning of Rs 1,903 crore, which has resulted within the complete provisioning improve to Rs 2,693 crore, which represents 5.eight per cent of the guide,” Piramal mentioned.



Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *