Piramal Enterprises This fall outcomes: Agency posts internet lack of Rs 1,703 crore

Piramal Enterprises on Monday posted a consolidated internet lack of Rs 1,702.59 crore for the quarter ended March 31 on account of anticipated credit score lack of Rs 1,903 crore.

It had posted a internet revenue of Rs 454.63 crore within the corresponding quarter final 12 months.

“The group has estimated and recognised an extra anticipated credit score lack of Rs 1,903 crore on sure monetary property on account of the anticipated impact of the worldwide well being pandemic,” Piramal Enterprises stated in a launch.

Alternatively, consolidated income declined 4.91 per cent YoY to Rs 3,341 crore throughout the quarter underneath overview.

The board additionally advisable a dividend of Rs 14 per share. The overall dividend payout on this account can be Rs 316 crore.

Ajay Piramal, Chairman, Piramal Enterprises stated, “The previous few quarters have been difficult for the Indian financial system. To navigate by way of such an surroundings, we have now considerably strengthened and deleveraged our steadiness sheet by way of a number of initiatives to lift capital. Our pharma enterprise continues to be operational regardless of the lockdowns and has delivered a wholesome income progress of 13 per cent YoY to Rs 5,419 crore.”

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