Piramal Enterprises Q1 Net Up 36% At Rs 231 Crore

New Delhi: Piramal Enterprises on Monday reported a 36.29 per cent rise in consolidated net profit to Rs 230.93 crore for the June quarter, mainly on account of robust sales.

The company had posted a net profit after tax, minority interest and share of profit of associates of Rs 169.43 crore for the corresponding period of the previous fiscal, Piramal Enterprises Ltd (PEL) said in a filing to BSE.

Total consolidated income from operations of the company also rose to Rs 1,776.22 crore for the quarter under consideration as against Rs 1,400.85 crore for the same period year ago.

PEL Chairman Ajay Piramal said: "The company again reported a robust revenue and profitability growth for Q1 FY 2017."

All the company's business are moving ahead towards delivering on their long term strategic plans, he added.

"We look forward to grow all our businesses both organically and through acquistions...," Piramal said. During the quarter pharma solutions business's Mahad site cleared its first ever USFDA audit without any observation, the company said.

Shares of Piramal Enterprises on Monday closed 1.20 per cent up at Rs 1,622.10 ascrip on BSE.