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Piramal Finance Sees Profit Surge 67%
19 Oct
Summary
- Profit after tax increased by 67% year-on-year.
- Assets Under Management reached Rs 1.13 lakh crore.
- Dinesh Kumar Khara appointed as independent director.
Piramal Finance has announced a strong performance for the second quarter of fiscal year 2027, with profit after tax surging by 67% year-on-year to Rs 545 crore. The company's total revenue from operations also experienced a notable increase of 27% year-on-year, reaching Rs 3,659 crore.
Net interest income for the quarter grew by 35% year-on-year to Rs 1,530 crore. Piramal Finance's Assets Under Management (AUM) stood at Rs 1.13 lakh crore as of September 30, 2026, marking a 24% rise from the previous year. The net interest margin was reported at 6.5%, an increase of 35 basis points year-on-year.
In a significant leadership development, Piramal Finance announced the appointment of Dinesh Kumar Khara as an independent director for a five-year term, effective October 19, 2026. Khara, a seasoned banker, previously served as the chairman of the State Bank of India.
The company also strengthened its capital base through a Qualified Institutional Placement (QIP) of Rs 2,100 crore and a preferential allotment of warrants worth Rs 1,750 crore, raising a total of Rs 3,850 crore.
