Piramal Enterprises Q3 consolidated net rises 21% to Rs 4.9 billion

Pharma segment revenues grew by 7% to Rs 10.22 bn

Piramal Enterprises, which straddles finance, pharma and healthcare segments, posted a 21% rise in net profit at Rs 4.9 billion in third quarter ended December 2017 (Q3FY18) mainly on account of improved operational performance.

However, growth in profits was partly offset by increase in tax expenses.

It had posted a net profit of Rs 4.04 billion in October-December 2016 (Q3FY17).

Ajay Piramal, chairman, PEL said the consistency in performance is outcome of robust business model, sharp focus on quality, compliance, legal and risk mitigation across businesses.

The income from financial services rose by 46% at Rs 13.16 billion for Q3FY18 from Rs 9.02  billion