Piramal Enterprises reported -3.1% fall in gross revenues for the Dec-20 quarter on consolidated basis at Rs3,168.61cr. In the overall product mix of Piramal Enterprises, financial services accounts for 57% of the revenues with pharmaceuticals accounting for the balance 43%.
Financial services revenues fell 9% yoy on account of lower interest rates and lower yields. Pharmaceutical sales were higher by 5% on a yoy basis, but clearly, the performance of the financial services weighted heavily on the overall revenues.
For the Dec-20 quarter, the consolidated operating profits were down -12.13% at Rs1,749.33cr. Broadly, the costs were kept in check and that ensured a limited impact on the operating profits. However, OPM tapered from 60.88% in Dec-19 quarter to 55.21% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 19.14% at Rs799.39cr. Lower interest rates also ensured that the interest outgo came down sharply. For the Dec-20 quarter, the yoy interest outgo was down 25% and that helped PAT to grow despite a fall in the top line and operating profits. PAT margins expanded from 20.52% in the Dec-19 quarter to 25.23% in the Dec-20 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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Piramal Enterprises |
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|
Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 3,168.61 |
₹ 3,269.97 |
-3.10% |
₹ 3,301.84 |
-4.04% |
|
Operating Profit (Rs cr) |
₹ 1,749.33 |
₹ 1,990.91 |
-12.13% |
₹ 1,860.63 |
-5.98% |
|
Net Profit (Rs cr) |
₹ 799.39 |
₹ 670.95 |
19.14% |
₹ 628.31 |
27.23% |
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Diluted EPS (Rs) |
₹ 32.59 |
₹ 32.57 |
|
₹ 26.26 |
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OPM |
55.21% |
60.88% |
|
56.35% |
|
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Net Margins |
25.23% |
20.52% |
|
19.03% |
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