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Motilal Oswal Report
Piramal Enterprises Ltd. reported 3% YoY growth in profit after tax to Rs 6.3 billion.
The lending book was stable QoQ at Rs 515 billion; however, decline in yield by 40 basis point QoQ led to 20 basis point margin contraction to 6.3%.
Asset quality was stable, with gross non-performing asset at 2.5% and emerging corporate lending provisions remaining high at 5.9% of loans.
Pharma business sales grew 10% YoY and Ebitda margins were stable at 23% YoY. Net debt in this business post the stake sale stands at Rs 22–25 billion.
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