Piramal Enterprises | Representative Image.

Piramal Enterprises on Thursday reported 10.38 per cent rise in consolidated net profit at Rs 799.39 crore for December quarter 2020-21.

The company had posted a net profit of Rs 724.19 crore for the year-ago period, Piramal Enterprises said in a regulatory filing. Revenue from operations stood at Rs 3,168.61 crore in the quarter under review. It was Rs 3,269.97 crore in the same period a year ago, it added.

"The company delivered a resilient performance despite the global COVID-19 impact. Pursuant to significantly strengthening our balance sheet, we are now progressing on the next round of major transformations across both Pharma and Financial Services businesses," Piramal Enterprises Chairman Ajay Piramal said. The company is changing its financial services business model from the one led by wholesale to a well diversified one; this also being one of the key objectives behind its bidding for DHFL, he added.

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"We are in parallel, making strides towards creating a large differentiated listed pharma company, post the growth capital raise from The Carlyle Group, through both organic as well as inorganic investments," Piramal said. These are the steps towards a shift from a multi-sector conglomerate structure into the one with focused listed entities within the pharma and financial services sectors, he added.

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Piramal Enterprises Q3 profit rises 10% at Rs 799 crore

The company had posted a net profit of Rs 724.19 crore for the year-ago period.

Piramal Enterprises | Representative Image.

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