Piramal Finance Q2 profit jumps 67% to ₹545 Cr; AUM at ₹1,13,112 Cr

Piramal Finance reported a 67% rise in Q2 consolidated profit to ₹545 crore, as reported by CNBC-TV18 and The Hindu BusinessLine. The year-ago quarter profit was ₹327 crore, first reported by CNBC-TV18. The results came out on Monday, October 19.

Consolidated revenue from operations was ₹3,659.19 crore, up 27.43% from ₹2,871.55 crore, first reported by CNBC-TV18. Net interest income grew 35% to ₹1,530 crore from ₹1,132 crore. PPOP climbed 64% to ₹846 crore from ₹515 crore. Assets under management were ₹1,13,112 crore, up 24% year on year. Retail AUM was ₹97,462 crore, up 30%. Gross NPA was 2.4%, and the cost-to-income ratio fell to 52.1% from 61.2%.

Chairman Anand Piramal said: "Q2 marks another quarter of consistent performance across growth, profitability and predictability, with our Growth AUM increasing 30% yoy." CNBC-TV18 first reported a completed ₹3,850 crore equity raise: ₹2,100 crore through a QIP and ₹1,750 crore through warrants for the promoter group.

Managing Director and CEO Jairam Sridharan said he expects margins to widen by up to 0.20% over the next year, as a rating upgrade lowers borrowing costs, first reported by The Hindu BusinessLine. The shares closed at ₹1,950 on Oct 19, down 0.015%, according to CNBC-TV18. The Hindu BusinessLine reported ₹1,948.05 on BSE, down 0.08%.