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Piramal Enterprises Q4 results: Firm posts net loss of Rs 1,703 crore

Piramal Enterprises on Monday posted a consolidated net loss of Rs 1,702.59 crore for the quarter ended March 31 as a consequence of anticipated credit score loss of Rs 1,903 crore.

It had posted a net revenue of Rs 454.63 crore within the corresponding quarter final yr.

“The group has estimated and recognised a further anticipated credit score loss of Rs 1,903 crore on sure monetary property on account of the anticipated impact of the worldwide well being pandemic,” Piramal Enterprises mentioned in a launch.

On the opposite hand, consolidated income declined 4.91 per cent YoY to Rs 3,341 crore in the course of the quarter beneath overview.

The board additionally beneficial a dividend of Rs 14 per share. The complete dividend payout on this account can be Rs 316 crore.

Ajay Piramal, Chairman, Piramal Enterprises mentioned, “The previous couple of quarters have been difficult for the Indian financial system. To navigate via such an atmosphere, we now have considerably strengthened and deleveraged our stability sheet via a number of initiatives to lift capital. Our pharma enterprise continues to be operational regardless of the lockdowns and has delivered a wholesome income development of 13 per cent YoY to Rs 5,419 crore.”

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