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Piramal Enterprises Ltd. reported a Q4 consolidated loss of Rs 5.1 billion, led by a one-off tax adjustment of Rs 12.6 billion.
Consolidated profit before tax was largely stable on a sequential basis at Rs 9.7 billion.
In FY21, consolidated profit before tax jumped to Rs 34 billion from Rs 14 billion YoY due to a low base (it had incurred a one-time provision of Rs 19 billion in FY20).
In Q4 FY21, the financial services segment was characterized by continued moderation in the wholesale lending book, gradual pick-up in retail lending disbursements, and some increase in the gross non performing loan ratio.
The company delivered a strong performance in the pharma segment, led by robust traction in contract development and manufacturing organization and India consumer products.
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