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| Exchange Disseminated Time 13/02/2017 15:16:59 | Piramal Enterprises Ltd has announced the following results for the quarter ended December 31, 2016
The Unaudited Standalone results for the Quarter ended December 31, 2016:
The Company has posted a net profit of Rs. 601.60 million for the quarter ended December 31, 2016 where as the same was at Rs. 2716.70 million for the quarter ended December 31, 2015. Total Income is Rs. 7729.20 million for the quarter ended December 31, 2016 where as the same was at Rs. 10431.30 million for the quarter ended December 31, 2015.
- During the period and quarter ended December 31, 2016, the Company has down -sold a portion of its lending portfolio comprising of Loan book assets of Rs.1,395,027 lakhs (Rs. 121,226 lakhs for the quarter) and Borrowings of Rs. 1,251,058 lakhs (Rs, 1,19,568 lakhs for the quarter), forming part of Its financial services business to its wholly owned subsidiary Piramal Finance Limited (formerly known as Piramal Finance Private Limited), far a net consideration of Rs. 143,969 lakhs (Rs.1,658 lakhs for the quarter), Accordingly, the results for the quarter / period ended December 31, 2016 are not comparable with the previous periods. Expected Credit Loss provision of Rs.20,191 lakhs (Rs.2,156 lakhs for the quarter) has been reversed accordingly
The Consolidated Results are as follows:
The Unaudited Consolidated results for the Quarter ended December 31, 2016
The Group has posted a net profit after tax, minority interest and share of profit / (Loss) of associates and Joint Ventures of Rs. 4040.80 million for the quarter ended December 31, 2016 as compared to Rs. 3069.10 million for the quarter ended December 31, 2015. Total Income has increased from Rs. 18212.20 million for the quarter ended December 31, 2015 to Rs. 23938.20 million for the quarter ended December 31, 2016. |
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