Piramal Enterprises Ltd.'s consolidated net profit fell 25% in the quarter ended March, missing analysts' estimates.
The financial services firm posted a profit of Rs 102.4 crore in the fourth quarter of the last financial year, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had a consensus estimate of Rs 126.5 crore.
PEL Q4 FY25 Highlights (Consolidated, YoY)
Total income up 20% to Rs 3,032.6 crore versus Rs 2,528.2 crore (Bloomberg estimate of Rs 2,867.7 crore).
Net interest income up 28% to Rs 964 crore versus Rs 755 crore.
Total assets under management up 36% to Rs 80,689 crore.
Net profit down 25% to Rs 102.4 crore versus Rs 137 crore (Bloomberg estimate: Rs 126.5 crore).
The firm recommended a final dividend of Rs 11 per share of a face value of Rs 2 each for the fiscal ended March 31, subject to approval from shareholders. It is planned to be paid on the day of the company's 78th annual general meeting.
Shares of PEL closed 4.51% lower at Rs 962.8 apiece on the NSE, compared to a 0.33% decline in the benchmark Nifty. The share price has risen 1.18% in the last 12 months but fallen 12.85% on a year-to-date basis.
Two out of the eight analysts tracking the company have a 'buy' rating on the stock, as many suggest 'hold' and four recommend 'sell', according to Bloomberg. The stock's return potential was at 2.3%.
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