Piramal Enterprises on April 26 reported 88 per cent plunge in consolidated net profit to Rs 456.24 crore for the fourth quarter ended March 31, 2019. In the year-ago period, the company had a net profit of Rs 3,943.98 crore on the back of deferred tax, according to a regulatory filing.
These figures are after taking into account tax and share of profit of associates and joint ventures.
In the year-ago period, the company had benefited from a deferred tax of Rs 3,569.18 crore on account of merger of subsidiaries.
Consolidated revenue from operations stood at Rs 3,679.67 crore for March quarter 2018-19 as against Rs 2,991.06 crore in the same period of 2017-18.
Net profit for entire 2018-19 was at Rs 1,470.12 crore as against Rs 5,120.28 crore in the previous year. Revenue from operations stood at Rs 13,215.34 crore for 2018-19. It was Rs 10,639.35 crore in 2017-18.
The company's board has recommended final dividend of Rs 28 per equity share of face value of Rs 2 each for 2018-19, Piramal Enterprises said.
Shares of Piramal Enterprises were trading at Rs 2,398.85 per scrip on BSE, down 6.12 per cent from the previous close.
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