Piramal Enterprises Q4 results: Firm posts Rs 196-cr net loss, declares Rs 31 dividend
Piramal Enterprises Q4 results: The company's consolidated revenue from operations declined 9% to Rs 2,132 crore
- May 5, 2023,
- Updated May 5, 2023 8:19 PM IST
Piramal Enterprises Ltd on Friday reported net loss of Rs 196 crore for the quarter ending March 31, 2023. It reported net profit of Rs 109 crore in the year-ago period.
The company's consolidated revenue from operations declined 9% to Rs 2,132 crore in Q4FY23 as against Rs 2,347 crore in Q4FY22.
Ajay Piramal, Chairman, Piramal Enterprises Ltd, said, “We are pleased with our resilient performance amid macroeconomic and geopolitical headwinds. India continues to remain a relative “bright spot” in the world and will likely contribute significantly to global growth in the coming years.
"In Retail, we have achieved substantial growth and this business now contributes to 50% of our AUM. We are consciously pivoting to a technology-led multi-product strategy to continue building a large diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth."
The Board has recommended a dividend of Rs 31 per share, subject to shareholders’ approval at the AGM; the total dividend pay-out would be Rs 740 crore.
On Friday, the company's scrip on BSE closed nearly 3% lower at Rs 735.55
Piramal Enterprises Ltd on Friday reported net loss of Rs 196 crore for the quarter ending March 31, 2023. It reported net profit of Rs 109 crore in the year-ago period.
The company's consolidated revenue from operations declined 9% to Rs 2,132 crore in Q4FY23 as against Rs 2,347 crore in Q4FY22.
Ajay Piramal, Chairman, Piramal Enterprises Ltd, said, “We are pleased with our resilient performance amid macroeconomic and geopolitical headwinds. India continues to remain a relative “bright spot” in the world and will likely contribute significantly to global growth in the coming years.
"In Retail, we have achieved substantial growth and this business now contributes to 50% of our AUM. We are consciously pivoting to a technology-led multi-product strategy to continue building a large diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth."
The Board has recommended a dividend of Rs 31 per share, subject to shareholders’ approval at the AGM; the total dividend pay-out would be Rs 740 crore.
On Friday, the company's scrip on BSE closed nearly 3% lower at Rs 735.55