Piramal Enterprises net rises 8 pc in Q1

Piramal Enterprises Limited on August 6 announced its consolidated results for the first quarter (Q1) FY2022 ended June 30.

According to a press release, the Q1FY22 revenue of the company was Rs 2,909 crore, which is broadly stable year-over-year. The net profit at Rs 534 crore witnessed an increase of 8 per cent Y-o-Y. It was also able to achieve 50 per cent reduction in net debt by Rs 27,677 crore since March 2019, said the release

Ajay Piramal, Chairman, Piramal Enterprises Ltd, said, “Despite the impact of the second wave of COVID-19, we have delivered resilient performance during the quarter with revenue at Rs 2,909 crore and net profit Y-o-Y growth by 8 pc to Rs 534 crore. We continue to maintain a strong balance-sheet with net debt-to-equity ratio at 0.8x.”