Q4FY24 Quarterly & FY24 Annual Result Announced for Piramal Enterprises Ltd.
Finance company Piramal Enterprises announced Q4FY24 & FY24 results: Financial Highlights: Growth AUM up 55% YoY to Rs 54,273 crore | 79% of total AUM Retail AUM (Rs 47,927 crore) form 70% of total AUM | Mortgages 68% of retail AUM Wholesale 2.0 AUM now at Rs 6,347 crore | Avg. ticket size – new RE: Rs 141 crore, CMML: Rs 59 crore Wholesale 1.0 AUM down 22% QoQ to Rs 14,572 crore, down 66% since end-FY22 90+ DPD stable-to-down across retail products | Wholesale 2.0 asset quality strong Overall, GNPA ratio at 2.4% and NNPA ratio at 0.8% Total capital adequacy at 25.6% with net worth of Rs 26,557 crore AIF recoveries of Rs 450 crore and provision write-back of Rs 1,067 crore in Q4 FY24 Assessed carry forward business loss of Rs 10,627 crore is available for set off against business profits of future years starting FY 25 NII up 36% YoY to Rs 839 crore in Q4FY24. Cost of funds drives NIM down 100bps YoY to 6.8% NII up 50% YoY in FY24 to Rs 3,065 crore Strong fee income growth of 111% YoY of Rs 190 crore in Q4FY24 Fee income up 101% YoY to Rs 570 crore in FY24 PBT of Rs 273 crore in Q4FY24 (vs Rs 34 crore in Q4FY23) PBT up 39% in FY24 YoY to Rs 1,044 crore Result PDF08-05-2024
