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Piramal Enterprises reports seven-fold rise in Q3 consolidated net profit

11 Feb 2013 Evaluate

Piramal Enterprises has reported results for third quarter ended December 31, 2012.

The company has reported a net loss of Rs 24.78 crore for the quarter ended December 31, 2012 as compared to a net loss of Rs 6.33 crore for the same quarter in the previous year. Total income of the company has increased by 24.22% at Rs 478.66 crore for quarter under review as compared to Rs 385.33 crore for the quarter ended December 31, 2011.

The figures for the quarter ended December 31, 2012 are not comparable to the previous quarter ended December 31, 2011 on account of demerger of New Chemical Entity (NCE) unit of Piramal Life Sciences (PLSL) into the company during the previous year.

The company, on consolidated basis, posted growth of over seven-fold in its net profit at Rs 61.07 crore for the quarter as compared to Rs 8.52 crore for the same quarter in the previous year. Total income of the company has increased by 63.43% at Rs 1055.06 crore for quarter under review as compared to Rs 645.54 crore for the quarter ended December 31, 2011.

The figures for the quarter and nine months ended December 31, 2012 are not comparable to the previous quarter and nine months ended December 31, 2011 on account of acquisition of Decision Resources Group during the first quarter of 2012 and demerger of New Chemical Entity (NCE) unit of Piramal Life Sciences (PLSL) into the company during the previous year.

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