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Piramal Enterprises Q4 - Elevated Provisions, Interest Income Reversals In Financial Services: Motilal Oswal

Piramal Enterprises Q4 - Elevated Provisions, Interest Income Reversals In Financial Services: Motilal Oswal

<div class="paragraphs"><p>500 rupee Indian banknotes. (Source: Unsplash)</p></div>
500 rupee Indian banknotes. (Source: Unsplash)

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Motilal Oswal Report

Piramal Enterprises Ltd. reported a consolidated profit after tax of ~Rs 20 billion in FY22. The same stood at Rs 1.5 billion in Q4 FY22 versus a loss of Rs 5.1 billion in Q4 FY21 (one-off from the DTA reversal).

The reported profit after tax factors in Rs 8.2 billion in additional provisioning and interest reversal of ~Rs 2.2 billion (totaling Rs 10.4 billion) on three non-RE accounts, which were classified under stage-II.

Piramal Enterprises' assets under management in financial services grew 33% YoY to ~Rs 652 billion. Retail loans grew over four times to Rs 216 billion, with the share of retail rising to 36% in FY22 from 12% in FY21.

Pharma sales grew 11% YoY to Rs 21.4 billion (in line) in Q4 FY22, led by robust growth in India consumer products.

Click on the attachment to read the full report:

Motilal Oswal Piramal Enterprises Q4FY22 Result Update.pdf

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