Piramal Enterprises Ltd on Thursday reported a consolidated net profit of Rs 150.53 crore in the fourth quarter ended March 31, 2022.
The company had posted a consolidated net loss of Rs 510.39 crore in the same period previous fiscal, Piramal Enterprises Ltd (PEL) said in a statement.
Consolidated revenue from operations during the quarter under review stood at Rs 4,162.94 crore, as against Rs 3,401.56 crore in the corresponding period a year ago, it added.
Pharmaceuticals segment clocked revenue of Rs 2,139.15 crore, while the financial services vertical registered Rs 2,023.79 crore during the quarter.
For the fiscal ended March 31, 2022 consolidated net profit was at Rs 1,998.77 crore, as compared to Rs 1,412.86 crore in the previous year, the company said.
In FY22, consolidated revenue from operations was at Rs 13,993.3 crore, as compared to Rs 12,809.35 crore in FY21.
PEL said its board has recommended a dividend of Rs 33 per share, subject to shareholders’ approval at the Annual General Meeting (AGM) and the total dividend pay-out would be Rs 788 crore.
“We have delivered a resilient performance in Q4 and FY22 across financial services and pharmaceuticals, against the backdrop of the pandemic and macro-economic headwinds,” PEL Chairman Ajay Piramal said.
In financial services, the company completed integration with DHFL and “re-activated almost all the branches and not only retained over 3,000 employees of the DHFL, but also created over 3,000 new jobs in the merged entity across India”, he added.
“Post the DHFL acquisition, we will now leverage our sizable retail lending platform to double our Assets under management (AUM) over the next 5 years, thereby significantly improving our mix towards retail,” Piramal said.
In pharmaceuticals, he said, “We have been investing organically and inorganically across all our businesses. All our key businesses have a compelling plan for their growth and have continued to deliver against their respective strategic priorities despite the challenging macro-environment.” Piramal further said, “We remain firmly on track to complete the demerger of the pharmaceuticals business by Q3 of FY23 and unlock significant value for our stakeholders.” PTI RKL DRR
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