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₹1,703 crore consolidated net loss in Q4

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NEW DELHI : Piramal Enterprises Ltd on Monday posted a consolidated net loss of ₹1,703 crore for the January-March quarter as its financial services segment undertook a provision of ₹1,903 crore to cover the uncertainty in recovery of loans amid the global covid-19 pandemic.

In the corresponding quarter last year, the conglomerate had posted a ₹455 crore consolidated net profit. “We have consciously shrunk our wholesale loan book by 12% and more importantly, reduced our large single borrower exposure by ₹4,200 Crores over the past year.

Further, given the uncertain macro environment, we have created ₹1,903 crores of additional provision to mitigate potential contingencies in our financial services business," the company’s chairman Ajay

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United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Deaths: 459 652
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Brazil
Brazil
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Deaths: 608 235
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United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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