Piramal Finance Q2 net profit soars 67% to Rs 545 crore

What happened: Piramal Finance reported Q2 net profit of Rs 545 crore, up 67%, and appointed former SBI chairman Dinesh Khara as an independent director. Key numbers: Net profit Rs 545 crore, up 67%. Pre-provision operating profit Rs 846 crore, up 64%. Net interest income Rs 1,530 crore, up 35%. Net interest margin 6.5%, up 35 basis points. Why it matters: Management said it is confident of meeting its FY27 net profit growth guidance of 50% year on year, while noting proposed insurance distribution commission guidelines could cut return on assets by 18-24 basis points in FY28.

Piramal Finance reported Q2 net profit of Rs 545 crore, up 67%, and appointed former SBI chairman Dinesh Khara as an independent director.

Management said it is confident of meeting its FY27 net profit growth guidance of 50% year on year, while noting proposed insurance distribution commission guidelines could cut return on assets by 18-24 basis points in FY28.