Piramal Enterprises shares surged as much as 9 per cent on Tuesday after the company on Monday reported robust 89 per cent rise in its consolidated net profit figures at Rs 180.24 crore for the quarter ended March 2016. The company had posted Rs 95.40 crore in the same quarter last year.
At 1.22 pm, shares of Piramal Enterprises were trading 5.94 per cent up at Rs 1347.25. The scrip opened at Rs 1280 and has touched a high and low of Rs 1386.75 and Rs 1280, respectively, in trade. Later, the scrip ended 5.05 per cent up at Rs 1335.95.
The company registered a 33.60 per cent increase in revenue at Rs 1,733.51 crore during the March quarter as against Rs 1,297.50 crore in the same quarter last year.
For the financial year ended March 2016, the company reported net profit of Rs 950.60, down 66.65 per cent, against Rs 2,849.95 crore a year ago. However, revenue of Piramal Enterprises jumped 29 per cent to Rs 6609.89 crore from Rs 5122.61 crore a year ago.
Piramal Enterprises Limited is a diversified company with a presence in healthcare, healthcare information management and financial services.