Piramal Enterprises Q1 net profit dips 64 percent to Rs 181 cr
Piramal Enterprises reported a 64% decline in net profit for the June quarter of 2024, totaling Rs 181 crore. The drop is attributed to a higher base from a one-off stake sale last year. Core net interest income grew 18% to Rs 807 crore, despite a narrower net interest margin and a 21% decline in other income. Managing Director Jairam Sridharan highlighted regulatory impacts on disbursements but expressed confidence in meeting FY25 targets. The capital adequacy ratio stands at 24.4%.
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Piramal Enterprises Reports 64% Drop in Q1 Net Profit to Rs 181 Crore; Image | Pixabay