Piramal Enterprises notes 32.12% slump in net profit at Rs 426.49 cr

12 Nov 2021 CW Team

In a regulatory filing, Piramal Enterprises said that the firm had recorded a net profit of Rs 628.31 crore for a similar term of the preceding fiscal. Consolidated income from operations reached Rs 3,105.52 crore for the quarter under consideration.

It was Rs 3,301.84 crore for the corresponding period a year before, it added. The second quarter of FY22 was transformational for our firm and majorly improved the foundation to encourage future growth.

Piramal Enterprises Chairman, Ajay Piramal, told the media that they executed the acquisition and merger of DHFL successfully, and the total AUM has increased 42% Q-o-Q (quarter-on-quarter) to Rs 66,986 crore.

The purchase has allowed the firm to modify its loan book and increase its retail lending portfolio via multi-product offerings that provide to the requirements of the underserved customers of India.

Leveraging their data, analytics and technology capabilities, they plan to be an aggressive player in the developing tier 2-3 cities and be the lender of choice for budget-conscious customers.

During the quarter, the board of directors nodded to the demerger of the company's pharmaceuticals business and simplification of the corporate structure. It will create two separate registered entities in financial services and pharmaceuticals - thereby unlocking value for their shareholders. It is in line with their said commitment as they continue to develop organically and inorganically across both the business sectors.

The balance sheet power and uniqueness of our business models set them apart, allowing them to build long-term value for their stakeholders. The purchase of DHFL and its merger with Piramal Capital & Housing Finance Limited (PCHFL) was executed in September 2021, Piramal Enterprises said.

Image Source

Also read: ED investigates Rs 2,000 cr loan from Piramal Group to Omkar

On Thursday, Piramal Enterprises recorded a 32.12% dip in consolidated net profit at Rs 426.49 crore for the quarter ended September, majorly on account of a drop in sales in the financial services sector and a one-time charge associated with a transaction fee for DHFL purchase. In a regulatory filing, Piramal Enterprises said that the firm had recorded a net profit of Rs 628.31 crore for a similar term of the preceding fiscal. Consolidated income from operations reached Rs 3,105.52 crore for the quarter under consideration. It was Rs 3,301.84 crore for the corresponding period a year before, it added. The second quarter of FY22 was transformational for our firm and majorly improved the foundation to encourage future growth. Piramal Enterprises Chairman, Ajay Piramal, told the media that they executed the acquisition and merger of DHFL successfully, and the total AUM has increased 42% Q-o-Q (quarter-on-quarter) to Rs 66,986 crore. The purchase has allowed the firm to modify its loan book and increase its retail lending portfolio via multi-product offerings that provide to the requirements of the underserved customers of India. Leveraging their data, analytics and technology capabilities, they plan to be an aggressive player in the developing tier 2-3 cities and be the lender of choice for budget-conscious customers. During the quarter, the board of directors nodded to the demerger of the company's pharmaceuticals business and simplification of the corporate structure. It will create two separate registered entities in financial services and pharmaceuticals - thereby unlocking value for their shareholders. It is in line with their said commitment as they continue to develop organically and inorganically across both the business sectors. The balance sheet power and uniqueness of our business models set them apart, allowing them to build long-term value for their stakeholders. The purchase of DHFL and its merger with Piramal Capital & Housing Finance Limited (PCHFL) was executed in September 2021, Piramal Enterprises said. Image Source Also read: ED investigates Rs 2,000 cr loan from Piramal Group to Omkar

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Equipment

09 Mar 2026

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Technology

09 Mar 2026

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..