Piramal Enterprises Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 30, 2014 at 06:49 pm IST
Share
Piramal Enterprises Limited reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, on standalone basis the company reported net sales/income from operations of INR 4,723.3 million against INR 3,515.3 million a year ago. Profit from operations before other income, other income, finance cost and exceptional items was INR 808.1 million against INR 73.7 million a year ago. Loss from ordinary activities before tax was INR 821.4 million against INR 363.7 million a year ago. Net loss for the period was INR 821.4 million or INR 4.8 per basic and diluted share against INR 247.8 million or INR 1.4 per basic and diluted share a year ago.
For the nine months, the company reported net sales/income from operations of INR 13,198.7 million against INR 10,115.5 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 2,016.6 million against loss from operations before other income, other income, finance cost and exceptional items of INR 19.5 million a year ago. Loss from ordinary activities before tax was INR 1,686.1 million against INR 882.0 million a year ago. Net loss for the period was INR 1,686.1 million or INR 9.8 per basic and diluted share against INR 793.9 million or INR 4.6 per basic and diluted share a year ago.
For the quarter, on consolidated basis the company reported net sales/income from operations of INR 12,693.4 million against INR 9,819.2 million a year ago. Profit from operations before other income, other income, finance cost and exceptional items was INR 2,166.8 million against INR 1,506.4 million a year ago. Loss from ordinary activities before tax was INR 6.0 million against profit from ordinary activities before tax of INR 690.1 million a year ago. Net loss for the period after taxes, minority interest and share of profit /loss of associates was INR 111.4 million or INR 0.7 per basic and diluted share against net profit for the period after taxes, minority interest and share of profit /loss of associates of INR 610.7 million or INR 3.5 per basic and diluted share a year ago.
For the year to date, the company reported net sales/income from operations of INR 33,382.3 million against INR 25,690.1 million a year ago. Profit from operations before other income, other income, finance cost and exceptional items was INR 4,038.3 million against INR 2,068.3 million a year ago. Loss from ordinary activities before tax was INR 1,514.8 million against INR 17.4 million a year ago. Net loss for the period after taxes, minority interest and share of profit /loss of associates was INR 1,900.6 million or INR 11.0 per basic and diluted share against INR 268.7 million or INR 1.6 per basic and diluted share a year ago.
Piramal Enterprises Ltd. is an India-based diversified non-banking financial company, with a presence across retail lending, wholesale lending, and fund-based platforms. The Company is engaged in providing finance. Its businesses include retail lending, wholesale lending, Piramal Alternatives and life insurance. In retail lending, the Company offers multiple products, including housing loans, loan against property, used car loans, small business loans, personal loans and microfinance. In wholesale lending, it caters to both real estate and non-real estate sectors, offering multiple products including construction finance, structured debt and senior debt to diverse corporate clients. Piramal Alternatives is the fund management business of the Piramal Group and an institutional capital provider in India. It has an approximately 50% stake in Pramerica Life Insurance. Pramerica Life Insurance provides a range of life insurance solutions for individuals as well as groups.
Piramal Enterprises Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013