Piramal Finance's Impressive Profit Surge: A Sign of Strategic Growth

Piramal Finance reported a significant net profit increase of Rs 401 crore for the December quarter, up from Rs 39 crore in the previous year. The growth was attributed to improved asset management, expanded net interest margins, and controlled expenses, according to CEO Jairam Sridharan.

Piramal Finance has witnessed a notable increase in its net profit for the December quarter, reporting a surge to Rs 401 crore from Rs 39 crore in the same period last year.

The company's CEO, Jairam Sridharan, credits this impressive growth to strategic factors such as asset management expansion, enhanced net interest margins, and rigorous control over operating expenses.

Despite challenges, the company has maintained its asset quality and aims for further improvement, buoyed by recent rating upgrades and cost-effective borrowing strategies.

(With inputs from agencies.)