Piramal Enterprises announces Q2 & H1FY 2015 results
Revenues for Q2FY2015 were higher by 10.1% at` 1,245Crores. Operating profit for Q2FY2015 was higher by 40.1% at`212 Crores. PAT was impacted by one time write down sand costs related to scaling back of NCE operations during the quarter amounting to`374Crores.
- (1888PressRelease) October 29, 2014 - Revenues for Q2 FY2015; up by 10.1% at`1,245 Crores; Operating Profit was higher by 40.1% at`212 Crores;
Revenues for H1 FY2015; up by 15.8% at`2,427 Crores; Operating Profit was higher by 26.1% at`368 Crores;
Piramal Enterprises Limited ('PEL',NSE:PEL,BSE:500302)today announced results for Q2 & H1FY2015.
For Q2FY 2015, revenues from pharmaceutical businesses was`786 Crores as against`730 Crores for Q2FY2014; a growth of 7.6%. Pharmaceutical businesses represent ~ 63% of overall revenues of the company. Income from financial services, representing~19% of overall revenues, grew by31.7% to`236 Crores for the quarter ending September 30, 2014 as compared with`179 Crores for the corresponding period of the previous year. Revenues from information management business, representing~18% of overall revenues, were at`223 Crores for Q2FY2015 as against`221Crores for Q2FY2014.
H1FY2015 performance:
Revenues for H1FY2015 were higher by15.8% at`2,427Crores. The operating profit for H1FY2015 was higher by 26.1% at`368 Crores. In April 2014, PEL sold 11% stake it owned in Vodafone India for`8,900 Crores; recording again of~`3,036 Crores. Net profit for the half year ended September 30,2014 was`2,506 Crores against a loss of`179 Crores for H1FY2014.
For H1FY2015, revenues from pharmaceutical businesses were at `1,525 Crores as against `1,344 Crores for H1FY2014; a growth of 13.5%. Income from financial services grew by 31.9% to `455 Crores for the half year ended September 30,2014 as compared with`345 Crores for the corresponding period of the previous year. Revenues from information management business grew by 10.1% to `448 Crores for H1FY2015 as against`407 Crores for H1FY2014.
For further information on the financials, please visit our website: www.piramal.com
Aboutthe Piramal Group
The Piramal Group,led by Ajay G.Piramal is one of India's fore most business conglomerates. Driven by the core values of Knowledge, Action & Care, the Group has interests across industries such as healthcare, drug discovery & research, diagnostics, glass, real estate, information management and financial services. The Group stead fastly pursues inclusive growth while adhering to ethical and value driven practices. The Group's turn over exceeded $1billion in FY2014.
About Piramal Enterprises Limited
Piramal Enterprises Limited (PEL)is one of India's largest diversified companies, with a presence in pharmaceuticals, health care information management and financial services. PEL's consolidated revenues were~$750 million in FY2014. In the pharmaceutical space, PEL is one of leading custom manufacturing player globally, has presence in the global critical care segment with a portfolio of inhalation and injectable anaesthetics and its OTC business is ranked no.7 in India.
PEL is also engaged in drug discovery & research and has strong pipe line of development products. PEL's information management business, Decision Resources Group, is a leading provider of information based services to the health care industry. In the financial services space, PEL, through Piramal Fund Management, provides comprehensive financing solutions to real estate companies. Its Structured Investments Group invests in various sectors, including infrastructure. PEL has also made long term equity investments in the Shriram Group, a leading financial conglomerate.
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