Piramal Enterprises Q4 net grows 61% to Rs 311 cr

New Delhi, May 12 () Piramal Enterprises today reported a 61.06 per cent growth in consolidated net profit at Rs 310.96 crore for the fourth quarter ended March, mainly on account of robust growth in all verticals. The company also appointed Ajay Piramal's son Anand Piramal non-executive director. The company had posted a net profit after non-controlling interest, share of profit or loss of associates and joint ventures of Rs 193.07 crore for the same period a year ago, Piramal Enterprises said in a filing to the BSE. Consolidated total income also rose to Rs 2,548.96 crorefor the quarter under consideration as against Rs 1,742.79 ayear ago.For the all of 2016-17, net profit stood at Rs 1,252.33crore, up from Rs 904.74 crore in 2015-16.Total income also rose to Rs 8,780.50 crore for 2016-17,as against Rs 6,633.14 crore in the year-ago period.Chairman Ajay Piramal said: "Strong growth across allbusinesses during the quarter enabled us to deliver the bestquarterly performance over the last few years."The board today also approved raising of funds up to Rs5,000 crore through issue of equity shares and/or convertiblesecurities.In a separate filing, the company said it board hasrecommended dividend of Rs 21 per share of face value ofRs 2 for the financial year ended March.The stock today closed at Rs 2,609.45 on the BSE, up 2.83per cent from its previous close. AKTARD