Piramal Enterprises Limited reported its consolidated financial results for the quarter ended December 31, 2024. The company’s revenue from operations stood at ₹2,448.58 crore, registering a modest increase of 1.85% year-on-year (YoY) compared to ₹2,475.65 crore in the same quarter last year. Sequentially, the revenue rose by 7.02% from ₹2,287.97 crore in Q2FY25.
However, the company’s profitability declined significantly during the quarter. The profit after tax (PAT) came in at ₹38.56 crore, a sharp decrease of 76.35% YoY compared to ₹162.97 crore in Q3FY24. On a quarter-on-quarter (QoQ) basis, the PAT saw a significant decline from ₹162.97 crore in the preceding quarter.
Key contributors to the revenue included interest income at ₹2,188.84 crore, up from ₹2,080.43 crore in the previous quarter, and dividend income at ₹12.12 crore. However, fees and commission income declined from ₹101.87 crore in Q2FY25 to ₹107.50 crore this quarter. The significant reduction in PAT can be attributed to the absence of net gains on fair value changes, which were ₹340.90 crore in Q3FY24, along with increased operational expenses.
This performance highlights a mixed quarter for Piramal Enterprises, with moderate revenue growth but substantial pressure on profitability. The company is expected to navigate the challenging environment with a focus on operational efficiency and cost management in the coming quarters.
