NEW DELHI: Piramal Enterprises today reported 21.37 per cent rise in consolidated net profit to Rs 490.47 crore for the December quarter on robust performance in financial services and pharmaceutical verticals.The company had posted a net profit of Rs 404.08 crore in the year-ago period, Piramal Enterprises said in a filing to BSE Consolidated revenue from operations also rose to Rs 2,858.36 crore for the quarter under review, against Rs 2,341.74 crore in the same period a year ago. "The company announced 22 per cent growth in total revenues at Rs 2,858 crore and 21 per cent increase in net profit at Rs 490 crore for the third quarter of 2017-18," Chairman Ajay Piramal said.The consistency in the company's performance is an outcome of the robust business model and sharp focus on quality, compliance, legal and risk mitigation across the businesses, he added. "Nearly Rs 7,000 crore of capital, which we are in the process of raising from existing and new top quality global and domestic investors, will play an instrumental role in achieving ambitious growth plans across our businesses operating in financial services and pharmaceutical sectors," Piramal said. Shares of Piramal Enterprises were trading at Rs 2,783.40 per scrip on BSE, down 0.62 per cent from the previous close.

Source: Economic Times January 30, 2018 10:07 UTC