Piramal Enterprises has reported a loss of Rs 146.7 crore for the first quarter ended June 30, 2013 against a PAT of Rs 4.1 crore, on higher interest costs.
Interest expenses for first quarter of FY14 was higher by 280% at Rs 332.5 crore as against Rs 87.5 crore as the company raised funds to invest in NBFC operations, said a statement. Piramal Enterprises had recently invested Rs 1,600-crore in Shriram Transport Finance Company to acquire 10% stake.
The total revenue has increased by 30% at Rs 970 crore against Rs 747 crore. on Thursday, shares of Piramal Enterprises have fallen down by 1.64% to close at Rs 585.45 on BSE.
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