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Piramal

Piramal Pharma reports consolidated net loss of Rs 90 crore in Q3

Piramal Pharma on Thursday reported a net loss of Rs 90 crore on a consolidated basis for the third quarter ended December 31, 2022. The Mumbai-based company had reported a net profit of Rs 163 crore in the October-December quarter of last fiscal. Revenue from operations stood at Rs 1,716 crore for the third quarter, while the same was at Rs 1,539 crore in the year-ago period. The company said the third quarter results were not comparable to the same period last year as the NCLT in August 12, 2022 approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd (PEL) into Piramal Pharma Ltd. The NCLT also approved amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals and Convergence Chemical into itself with an appointed date of April 1, 2022. Accordingly, the financial statements of Piramal Pharma have been prepared giving effect to the scheme from April 1, 2022. "Based on our recent increase in customer engagements and ...

Piramal Pharma reports consolidated net loss of Rs 90 crore in Q3
Updated On : 09 Feb 2023 | 3:08 PM IST

RCap assets' e-auction to kick off on Dec 19; base bid at Rs 5,300 crore

This is the first time that an e-auction of this scale would take place for a debt resolution under the Insolvency and Bankruptcy Code, 2016

RCap assets' e-auction to kick off on Dec 19; base bid at Rs 5,300 crore
Updated On : 10 Dec 2022 | 12:13 AM IST

Eye on maximum value, lenders say no to Reliance Capital liquidation

"Lenders will decide on the further course of action, including the stance for negotiations on Friday," the source said

Eye on maximum value, lenders say no to Reliance Capital liquidation
Updated On : 06 Dec 2022 | 10:16 PM IST

RCap liquidation or negotiation? CoC to meet on Tuesday to take a call

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

RCap liquidation or negotiation? CoC to meet on Tuesday to take a call
Updated On : 05 Dec 2022 | 4:39 PM IST

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital
Updated On : 29 Nov 2022 | 11:18 PM IST

Piramal Pharma posts Q2 net loss of Rs 37 cr, revenue grows to Rs 1,720 cr

Piramal Pharma on Wednesday reported a consolidated net loss of Rs 37 crore for the second quarter ended September, as against a net profit of Rs 37 crore in the year-ago period. However, the company's revenue from operations grew to Rs 1,720 crore during the July-September quarter, from Rs 1,578 crore in the corresponding period of the previous fiscal. Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We announce our first results post demerger as an independent and focused pharma company. Over the last 10 years, we have made several strategic choices that have helped nurture and scale our business and establish Piramal Pharma (PPL) as a leading global pharmaceuticals player." "For the quarter and half year ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much improved performance in the second half of the current financial year," she added. The National Company Law Tribunal

Piramal Pharma posts Q2 net loss of Rs 37 cr, revenue grows to Rs 1,720 cr
Updated On : 09 Nov 2022 | 11:55 PM IST

Tatas to raise Rs 4,000 cr from NHB, bonds market in mega home loan push

Loans to be offered to both retail and developers; funds being raised amid 13% expansion in loan portfolio over six months to September

Tatas to raise Rs 4,000 cr from NHB, bonds market in mega home loan push
Updated On : 02 Nov 2022 | 3:51 PM IST

MSCI sets aside Piramal Pharma's exclusion from global standard index

The company was listed separately on October 19, following its demerger from Piramal Enterprises

MSCI sets aside Piramal Pharma's exclusion from global standard index
Updated On : 27 Oct 2022 | 11:33 PM IST

Piramal Pharma ends at Rs 192 on debut, valued at Rs 22,882 cr at close

Domestic brokerage Motilal Oswal has set a price target of Rs 210 for the stock

Piramal Pharma ends at Rs 192 on debut, valued at Rs 22,882 cr at close
Updated On : 19 Oct 2022 | 11:16 PM IST

Piramal, Oaktree seek more time to make offers for Reliance Capital

Lenders target to resolve debt worth Rs 50,333 crore by FY23

Piramal, Oaktree seek more time to make offers for Reliance Capital
Updated On : 31 Jul 2022 | 9:57 PM IST

Piramal Enterprises Q1 net profit slips 9% to Rs 486 cr; revenue up 22%

Piramal Enterprises Ltd on Friday reported an 8.95 per cent decline in consolidated net profit to Rs 485.98 crore for the first quarter ended June 30, impacted by higher expenses. The company had posted a consolidated net profit of Rs 533.79 crore in the same period last fiscal, Piramal Enterprises Ltd (PEL) said in a regulatory filing. Its revenue from operations in the first quarter stood at Rs 3,548.37 crore compared to Rs 2,908.68 crore in the year-ago period, it added. Total expenses in the quarter were higher at Rs 3,252.09 crore against Rs 2,492.97 crore a year ago. PEL said its pharmaceuticals vertical clocked revenue of Rs 1,485.43 crore, up from Rs 1,362.02 crore in the year-ago quarter. The financial services segment registered a revenue of Rs 2,062.94 crore against Rs 1,546.66 crore in the first quarter of the last fiscal, the company added. "In financial services, we achieved significant growth in retail disbursements through our branches as well as by leveraging dig

Piramal Enterprises Q1 net profit slips 9% to Rs 486 cr; revenue up 22%
Updated On : 29 Jul 2022 | 10:19 PM IST

Ahead of demerger, Piramal Pharma inducts three new board members

Piramal Enterprises has received shareholders' approval to demerge its Piramal Pharma business and simplify the corporate structure

Ahead of demerger, Piramal Pharma inducts three new board members
Updated On : 07 Jul 2022 | 5:33 PM IST

After a lull, NBFCs looking to step up funding for real estate sector

The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

After a lull, NBFCs looking to step up funding for real estate sector
Updated On : 07 Jun 2022 | 6:05 AM IST

Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world

Biden administration reaffirms its commitment to support India's permanent membership.

Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world
Updated On : 12 Apr 2022 | 4:53 PM IST

SC stays NCLAT order in DHFL case on Piramal's appeal

NCLAT in January this year had directed the lenders of Dewan Housing Finance Corporation to reconsider their decision regarding the valuation of the financial firm's avoidable transactions

SC stays NCLAT order in DHFL case on Piramal's appeal
Updated On : 12 Apr 2022 | 2:12 AM IST

DHFL case: SC stays NCLAT order; to hear appeals of Piramal, banks in May

It may be pointed out that in its resolution plan, Piramal had ascribed Re 1 value against Rs 40,000 crore assets that have been fraudulently diverted by erstwhile promoters of DHFL

DHFL case: SC stays NCLAT order; to hear appeals of Piramal, banks in May
Updated On : 11 Apr 2022 | 5:19 PM IST

Rupen Jhaveri appointed Group President of Piramal Enterprises

Piramal Enterprises Limited (PEL) on Wednesday announced the appointment of Rupen Jhaveri as its Group President, with primary focus on financial services. In the newly created role, Jhaveri will be responsible for business development, strategy, merger and acquisition, capital allocation and corporate finance. The appointment is effective January 24, 2022, the company said in a statement. His appointment is following the company's announcement in October 2021 that it would demerge its financial services and pharmaceuticals operations, aimed at simplifying PEL's corporate structure and unlocking value. Post the demerger, PEL will become one of the largest diversified NBFCs with capabilities in affordable home lending, small business lending, construction finance and digital embedded finance, the company said. Jhaveri joins PEL from global investment firm KKR, where he was a managing director at its India private equity team. Prior to joining KKR, he was with Goldman Sachs & Co in .

Rupen Jhaveri appointed Group President of Piramal Enterprises
Updated On : 22 Dec 2021 | 8:16 PM IST

Demerger to give a push to both pharma and financial services: Ajay Piramal

In a Q&A, the Chairman of Piramal Group talks about the prospects of both businesses, the rationale for the demerger and how supply side issues are impacting Indian companies

Demerger to give a push to both pharma and financial services: Ajay Piramal
Updated On : 08 Oct 2021 | 3:04 AM IST

M-cap of 2 demerged entities could exceed Piramal's by 10-15%: Analysts

Analysts say the demerger will make it easier for investors to value the two companies

M-cap of 2 demerged entities could exceed Piramal's by 10-15%: Analysts
Updated On : 08 Oct 2021 | 1:23 AM IST

Piramal Enterprises board approves to demerge and list pharma business

The demerger will give potential investors the option of being associated with the business of their choice

Piramal Enterprises board approves to demerge and list pharma business
Updated On : 08 Oct 2021 | 12:26 AM IST