Piramal Enterprises Shares Soar 9% On Robust Q4 Earnings

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Mumbai: Shares of Piramal Enterprises on Tuesday surged 9 per cent, buoyed by the company reporting a 89 per cent jump in net profit in March quarter.

The stock soared 9 per cent to Rs 1,386.75, its 52-week high, on BSE.

On NSE, the scrip zoomed 9 per cent to touch an one-year high of Rs 1,387.

Yesterday, Piramal Enterprises reported a 89 per cent jump in net profit at Rs 180 crore for the March quarter compared with Rs 95 crore in the same period last year, following strong revenue growth across businesses.

The company reported a 34 per cent increase in revenue at Rs 1,734 crore during the March quarter as against Rs 1,298 crore during the corresponding period last year.

The revenue for 2015-16 fiscal were Rs 6,610 crore, up 29 per cent, from 2014-15. Its net profit, however, declined sharply by 67 per cent at Rs 951 crore for 2015-16 fiscal as against Rs 2,850 crore in the previous year.