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Informist, Friday, Oct. 17, 2025

 

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--Piramal Finance Q2 consol net profit INR 3.27 bln vs INR 1.63 bln year ago 
--Piramal Finance Q2 consol revenue INR 28.72 bln vs INR 23.65 bln year ago 
--Piramal Finance H1 consol net profit INR 6.03 bln vs INR 3.44 bln year ago 
--Piramal Finance H1 consol revenue INR 55.11 bln vs INR 45.91 bln year ago
--Piramal Finance: AUM INR 914.47 bln as on Sept 30, up 22% on year 
--Piramal Finance Q2 consol NIM 6.1%, up 104 bps YoY

 

By Cassandra Carvalho

 

MUMBAI – Piramal Finance Ltd.'s consolidated net profit for the September quarter jumped 101% from a year ago following an 18% on-year rise in the company's total income. Effective Sept. 16, Piramal Finance was amalgamated with its holding company, Piramal Enterprises Ltd. Following this, trading in Piramal Enterprises securities ceased and shareholders listed in the company's register were allotted equity shares of Piramal Finance on a 1:1 basis.

 

"The financial results have been prepared to reflect the accounting impact of the amalgamation as if the amalgamation had occurred from the beginning of the reporting period. Accordingly, comparative figures for the preceding year/period(s) have been restated to reflect the aforementioned scheme," the company said in its filing for the quarterly earnings.
 

The company, formerly known as Piramal Capital & Housing Finance Ltd., reported a consolidated net profit of INR 3.27 billion for the September quarter, up from INR 1.63 billion a year ago. The consolidated revenue for the quarter was INR 28.72 billion, against INR 23.65 billion a year ago. The consolidated total income for the quarter was INR 29.00 billion from INR 24.52 billion a year ago.

 

Reversal of tax credits after the amalgamation with the holding company aided the rise in Piramal Finance's net profit. Piramal Enterprises provided INR 600 million for amalgamation-related costs, Piramal Finance said. As part of the sale agreement, the holding company provided INR 210 million for compensation in relation to tax matters of earlier years for one of the erstwhile subsidiaries, it said. Piramal Enterprises had recognised deferred tax assets of INR 27.44 billion as of Sept. 30. 

 

Piramal Finance's total assets under management grew 22% on year to INR 914.47 billion as of Sept. 30. On the asset quality front, the gross non-performing assets ratio was 2.6% from 2.8% a quarter ago. The net non-performing assets ratio also inched lower to 1.8% from 2.0% a quarter ago.

 

The company's capital adequacy ratio was 20.7% as of Sept. 30, against 19.3% as on Jun. 30. The net interest income rose 29% on year to INR 11.32 billion. The company's average cost of borrowing of 8.93% was down 19 basis points on quarter, going below 9?ter five quarters, it said in a press release. Its retail quarterly disbursements rose 36% on year to INR 109.54 billion while its wholesale quarterly disbursements were up 11% on year at INR 20.43 billion in the reporting quarter.

 

"As we look ahead, our goal is to deliver a balanced outcome in growth, profitability, and risk over the next three to five years and beyond," Anand Piramal, chairman of the company, said in a press release. "We continue to invest strategically--expanding branches and embedding artificial intelligence and analytics across operations to double our assets under management to more than INR 1.5 trillion in three years from FY25 to FY28. Our priority in the next few years is to grow profits steadily, while achieving a sustainable return on AUM (assets under management) north of 3% in steady state."

 

The non-banking finance company is currently in the process of listing its equity shares on the stock exchanges following the amalgamation with the holding company. Piramal Finance Ltd. expects to list its shares on the stock market by early November, the management said in a conference call Friday.  End

 

Edited by Rajeev Pai

 

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