Diversified company Piramal Enterprises today reported a consolidated net profit of Rs 4.08 crore for the quarter ended June 30, 2012.
The company had posted a net profit of Rs 89.23 crore for the corresponding quarter of previous fiscal, Piramal Enterprises Ltd said in a filing to BSE.
Its consolidated total income stood at Rs 747.24 crore for the quarter under consideration. The same stood at Rs 511.95 crore during the same period of 2011-12 fiscal.
The results of the quarter ended June 30, 2012 are not comparable with the same quarter last fiscal on account of acquisitions and demerger of new chemical entity (NCE) of Piramal Life Sciences into the company during the previous year, Piramal Enterprises said.
During the quarter, Piramal completed acquisition of Decision Resources Group Inc for USD 635 million (nearly Rs 3,400 crore) and also the worldwide rights to molecular imaging research and development portfolio of Bayer Pharma AG, it added.
The company posted robust sales in all the segments of its pharma businesses.
Income from investments for the quarter ended June 30, 2012 stood at Rs 32.1 crore compared to Rs 71 crore in the same quarter a year ago due to investment of Rs 5,862 crore to acquire 11% equity stake in Vodafone India Ltd, it added.
Shares of Piramal Enterprises today closed at Rs 529.70 apiece on BSE, down 1.54% from their previous close.