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Piramal Finance reports sharp rise in Q4 profit driven by one-off gains, while core operating performance remains stable.
Piramal Finance's Q4 profit surged 390% YoY to Rs 502 crore, driven by one-off gains.
KEY POINTS
- Exceptional income of Rs 1,590 crore included a Rs 600 crore stake sale in Shriram Life Insurance.
- The firm secured $350 million in inaugural DFI funding from IFC and Asian Development Bank.
- Provisions rose sharply to Rs 1,787 crore due to legacy exposures, impacting core profitability.
- Retail AUM grew 33% YoY to Rs 85,885 crore, now forming 85% of the loan book.
COMPANIES
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