Piramal Enterprises jumps 8%

Piramal Enterprises is the top gainer on the BSE currently, rising 8% to Rs.1680. Its UC is at 10% at Rs.1711.95.

The market is reacting positively to its performance for Q2FY20. On the back of pharma and healthcare segments robust performance, the company reported a 15% (YoY) rise in net profit at Rs.554 crore on a 18% jump in revenue at Rs.3603 crore.

Its pharma business showed a 13% rise in revenue at Rs.1316 crore while that of healthcare rose 14% to Rs.333 crore. Its consumer products vertical too did well with a 39% growth at Rs.112 crore.

The company’s total loan book stands at Rs.53,055 crore and of this, its housing finance loan showed the biggest jump of over three times at Rs.6393 crore.

Gross non-performing assets ratio remained stable quarter on quarter at 0.9%. Provisioning was at 194% of gross NPAs.  It also made repayments of Rs.19,400 crore in the past year in the wholesale book.