Piramal Enterprises Q2 net loss at Rs 92 cr

Nov 05 2012, 18:42 IST
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Piramal Enterprises Q2 net loss at Rs 92 cr. Piramal Enterprises Q2 net loss at Rs 92 cr.
SummaryThe company had posted net profit of Rs 52.43 cr during the same period of previous fiscal.

Piramal Enterprises Ltd today reported a consolidated net loss of Rs 92.02 crore for the second quarter ended September 30, 2012, primarily due to rise in finance costs.

The company had posted a net profit of Rs 52.43 crore during the same period of previous fiscal, Piramal Enterprises said in a filing to the BSE.

Net sales of the company stood at Rs 828.58 crore during the second quarter ended September 30, 2012. It was Rs 477.58 crore during the same period of 2011-12 fiscal.

During the period under review, the company's finance costs stood at Rs 122.23 crore. It was Rs 19.63 crore during the same period of 2011-12 fiscal.

The company said current quarter results are not comparable to the corresponding quarter of 2011-12 fiscal on account of acquisition of Decision Resources Group and demerger of new chemical entity of Piramal Life Sciences Ltd into the company during the period.

Shares of Piramal Enterprises today closed at Rs 489.15 on the BSE, down 0.74 per cent from its previous close.

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