Piramal Enterprises, a well diversified entity with net sales of Rs.6,500 crore, has registered satisfactory financial performance during the second quarter ended September 2016. Its consolidated net profit increased by 30.2 per cent to Rs.306 crore from Rs.235 crore in the similar period of last year. Its net sales also moved up by 29.7 per cent to Rs.1,936 crore from Rs.1,493 crore. EPS worked out to Rs.17.75 as compared to Rs.13.64 in the last period.

Its total healthcare segment sales increased by 8.5 per cent to Rs.889 core during the quarter from Rs.819 crore in the same quarter of last year and contributed 45.3 per cent to its total sales. Pharma solutions sales remained flat at Rs.556 crore as against Rs.552 crore in the last period. Critical care segment registered sales growth of 4.8 per cent to Rs.218 crore and that of consumer products business increased by 76 per cent to Rs.99 crore from Rs.57 crore.

The company acquired four brands from Pfizer for a consideration of Rs.121 crore. Further, It acquired 100 per cent stake in Ash Stevens Inc., a US based contract development and manufacturing organisation (CDMO), in an all cash deal for a total consideration of Rs.301.43 crore.

The pharma segment achieved EBDITA of Rs.45.78 crore as against Rs.39.02 crore in the same period of last year. The EBDITA of financial services went up sharply to Rs.314 crore from Rs.186 crore. However, information management segment received setback and its earnings for the quarter remained negative at Rs.4.89 crore as compared to profit of Rs.27.42 crore.

The sales from Financial services increased by 99 per cent to Rs.815 crore from Rs.410 crore and contributed 41.5 per cent to its total sales. The sales from information management went up by 17 per cent to Rs.262 crore from Rs.225 crore. The contribution of information management sales worked out to 13.3 per cent in its total income.

Ajay Piramal, chairman, said, “We are pleased to share, that in continuation to previous quarters, Piramal Enterprises has recorded strong growth and robust profitability in the first half of FY 2017. Our business strategy to grow both organically and inorganicially, along with strong execution capabilities, enables us to consistently deliver healthy financial results. We remain committed to creating long term vale for our shareholders.”