 "Piramal Enterprises")
In its first quarterly earnings as a listed non-banking finance company (NBFC) post the demerger of the pharma business, Piramal Enterprises Ltd (PEL) reported a net loss of Rs 1,536 crore in July – September (Q2FY23) quarter, on account of additional provisioning and fair value adjustment of Rs 3,311 crore on assets during the quarter. In the year-ago period, it had earned a net profit of Rs 395 crore.
PEL has moved Rs 5,888 crore worth of wholesale assets from Stage 1 to Stage 2 as the management believed there could be potential stress from these assets. As a result
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