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Piramal Enterprises Q4 profit dives 88% to Rs 456 crore; consolidated revenue stands at Rs 3,679.67 crore

New Delhi: Piramal Enterprises Friday reported 88 percent plunge in consolidated net profit to Rs 456.24 crore for the fourth quarter ended 31 March, 2019.

In the year-ago period, the company had a net profit of Rs 3,943.98 crore on the back of deferred tax, according to a regulatory filing.

These figures are after taking into account tax and share of profit of associates and joint ventures.

 Piramal Enterprises Q4 profit dives 88% to Rs 456 crore; consolidated revenue stands at Rs 3,679.67 crore

A file photo of Ajay Piramal, chairman of Piramal group

In the year-ago period, the company had benefited from a deferred tax of Rs 3,569.18 crore on account of merger of subsidiaries.

Consolidated revenue from operations stood at Rs 3,679.67 crore for March quarter 2018-19 as against Rs 2,991.06 crore in the same period of 2017-18.

Net profit for entire 2018-19 was at Rs 1,470.12 crore as against Rs 5,120.28 crore in the previous year. Revenue from operations stood at Rs 13,215.34 crore for 2018-19. It was Rs 10,639.35 crore in 2017-18.

The company's board has recommended a final dividend of Rs 28 per equity share of the face value of Rs 2 each for 2018-19, Piramal Enterprises said.

Shares of Piramal Enterprises were trading at Rs 2,398.85 per scrip on BSE, down 6.12 percent from the previous close.

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Updated Date: Apr 26, 2019 17:32:24 IST