Piramal Enterprises, a Rs.3,500 crore plus diversified company with a presence in pharmaceutical, financial services and information management sectors, has received major setback during the first quarter ended June 2013 on account of one time charges of Rs.162.80 crore towards acquisition of Decision Resources Group in June 2012. Thus, the figures are not strictly comparable. It incurred a consolidated net loss of Rs.146.66 crore as against a net profit of Rs.4.08 crore. However, its EBDITA worked out to Rs.260.09 crore as against Rs.135.96 crore, a smart gain of 91.3 per cent.

The company's consolidated net sales increased by 30.2 per cent to Rs.958.45 crore from Rs.736.35 crore. Pharmaceutical segment contributed over 63 per cent to its total net sales and reached at Rs.613.66 crore from Rs.615.12 crore in the corresponding period of last year. The income from financial services including strategic investments contributed 18 per cent to its sales and amounted to Rs.170.63 crore as against Rs.74.34 crore. The Information management income increased sharply by 222 per cent to Rs.185.91 crore from Rs.57.78 crore in the similar period of last year. This worked out to 19 per cent of its net sales.

The expenditure for employees benefits increased by 63.7 per cent to Rs.252.57 crore during the quarter under review from Rs.154.34 crore and its R&D expenditure increased by 28.4 per cent to Rs.70.99 crore from Rs.55.27 crore. Its interest cost went up sharply by 280 per cent, which impacted its bottom line, to Rs.332.53 crore from Rs.87.52 crore as the company provided one time charges of Rs.162.80 crore for acquisition of Decision Resources Group. The company has purchased 10 per cent stake of Shriram Transport Finance Company for a cash consideration of Rs.16.36 crore.

The company amalgamated PHL Holdings Pvt Ltd with effective from July 2, 2013. It canceled 8,40,92,879 equity share of Rs.2 each held by PHPL in the company and issued equivalent number to the shareholder of PHPL on July 16, 2013.