Piramal Enterprises lost 1.12% to Rs 932 at 14:39 IST on BSE after consolidated net profit dropped 93% to Rs 203 crore on 25% growth in total revenue to Rs 1474 crore in Q1 June 2015 over Q1 June 2014.
The Q1 result was announced during market hours today, 6 August 2015.
Meanwhile, the S&P BSE Sensex was up 97.93 points or 0.35% at 28,321.01.
On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 11,071 shares in the past one quarter.
The stock was volatile. The stock fell as much as 1.75% at the day's low of Rs 926 so far during the day. The stock rose as much as 1.74% at the day's high of Rs 959 so far during the day. The stock had hit a record high of Rs 1,043 on 20 May 2015. The stock had hit a 52-week low of Rs 641.15 on 5 August 2014.
The large-cap company has equity capital of Rs 34.51 crore. Face value per share is Rs 2.
Piramal Enterprises said it has delivered a strong revenue performance with growth across all three business segments in Q1 June 2015. 63% of its Q1 June 2015 revenues were generated in foreign currency, Piramal Enterprises said in a statement.
Piramal Enterprises' Q1 June 2015 results are not comparable with that of Q1 June 2014 on account of various acquisitions and divestitures.
There was an exceptional income of Rs 3031 crore in Q1 June 2014, primarily on account of gain on sale of 11% stake in Vodafone India for Rs 8900 crore (an investment of Rs 5864 crore made in FY 2012).
There was an exceptional loss of Rs 2.60 crore in Q1 June 2015 on account of loss on sale of clinical research business in April 2015.
Piramal Enterprises' consolidated profit after tax excluding exceptional item rose 272.72% to Rs 205 crore in Q1 June 2015 over Q1 June 2014, mainly on account of improved performance across business segments, lower R&D expenses and higher share of income from associates, partly offset by increase in interest expense and marginal increase in depreciation.
The company's total loan book increased to Rs 7611 crore as on 30 June 2015 as compared with Rs 3193 crore as on 30 June 2014.
Commenting on the company's Q1 performance, Ajay Piramal, Chairman of Piramal Enterprises said that the company's Financial Services segment, where it has been allocating a large portion of its capital over the last few years is consistently delivering robust performance. Apart from significantly scaling up of its Real Estate Financial Services platform, the company entered into two large Special Situation transactions. Piramal's Pharma solutions business witnessed industry leading growth on back of its end-to-end play, value accretive acquisition and capacity expansions. All of the company's businesses continue to focus on executing their well-defined growth strategy, Ajay Piramal said.
Piramal Enterprises is one of India's large diversified companies, with a presence in healthcare, healthcare information management and financial services.
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