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Motilal Oswal Report
Piramal Enterprises Ltd. reported 11% YoY growth in profit after tax to Rs 5.0 billion.
The lending book was stable, while margins improved sharply QoQ (on a lower base of Q4 up 230 basis point) to 6.5%.
Asset quality was stable, with gross non-performing asset percentage at 2.5% and Emerging Corporate Lending (ECL) provisions remaining high at 5.9% (5.8%) of loans.
Pharmaceutical business sales were at nearly 90% of Q1 FY20 levels, although Ebitda margins were a challenge.
The company continues to carry unallocated networth of Rs 30 billion plus for any inorganic opportunities.
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