This Article is From May 27, 2022

Piramal Enterprises Shares Hit 52-Week Low, Down 10% After Earnings Report

Shares of Piramal Enterprises Ltd fell to its 52-week low, down 10 per cent, a day after its earnings report.

Piramal Enterprises Shares Hit 52-Week Low, Down 10% After Earnings Report

After earnings report, Piramal Enterprises shares fall 10% to 52-week low

Shares of Piramal Enterprises Ltd fell to its 52-week low, down nearly 10 per cent on Friday, a day after reporting a consolidated net profit of Rs 150.53 crore in the March quarter.

The company had posted a consolidated net loss of Rs 510.39 crore in the same period previous fiscal, Piramal Enterprises Ltd (PEL) said in a statement.

Still, on the BSE, the company's shares were last trading at Rs 1,669.55, down 10 per cent after falling to its 52-week low of Rs 1659.45.

Piramal Enterprises reported a consolidated revenue from operations of Rs 4,162.94 crore, against Rs 3,401.56 crore in the corresponding period a year ago.

For the fiscal ended March 31, 2022 consolidated net profit was at Rs 1,998.77 crore, as compared to Rs 1,412.86 crore in the previous year, the company said.

In FY22, consolidated revenue from operations was at Rs 13,993.3 crore, as compared to Rs 12,809.35 crore in FY21.

PEL said its board has recommended a dividend of Rs 33 per share, subject to shareholders' approval at the Annual General Meeting (AGM) and the total dividend pay-out would be Rs 788 crore.

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