Piramal Enterprises Q2 net loss at Rs 390.79 cr

Piramal Enterprises today reported a consolidated net loss of Rs 390.79 crore for the quarter ended September 30, 2014, due to onetime write downs and costs related to scaling back of NCE operations.
The company had posted a net loss of Rs 32.26 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in a filing to BSE.
Consolidated total income of the company rose to Rs 1,244.78 crore for the quarter under consideration from Rs 1,130.53 crore for the same period year ago, it added.
Profit after tax was impacted by onetime write downs and costs related to scaling back of NCE operations during the quarter amounting to Rs 374 crore, Piramal Enterprises said.

For the second quarter this fiscal revenues from pharmaceutical businesses, that represents 63 per cent of the overall revenues of the company, rose to Rs 786 crore as against Rs 730 crore for the same period of the previous fiscal, it added.
Shares of Piramal Enterprises today closed at Rs 688 on BSE, up 0.39 per cent from its previous close.