In intraday trading today, shares of Piramal Enterprises, a well-known diversified non-banking financial company (NBFC), fell by 8.10% to ₹905.40 apiece. This decline came after the company released its Q1 FY25 results on Tuesday after market hours.
For the June quarter, the company’s net profit dropped by 64% to ₹181 crore. This big decline was mostly due to a large base impact from a one-time item the previous year. Core net interest income climbed by 18% to ₹807 crore, due to a 10% growth in total assets under management (AUM) to ₹70,576 crore. However, the net interest margin decreased to 6.7% from 7.3% at the same time last year.
With retail AUM surpassing ₹50,000 crore, it now accounts for 72% of total AUM. The company stated that changes in regulations about fair practices had an impact on disbursements in the June quarter, but it remains optimistic that it can achieve its FY25 objective of 15% AUM growth, with ₹80,000 crore as the target.
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