Piramal Finance Q3 Net Profit Surges to ₹401 Crore, Driven by AUM Growth

• Piramal Finance reported a significant surge in net profit to ₹401 crore in Q3, up from ₹39 crore in the same period last year.
• Managing Director Jairam Sridharan attributed the profit growth to increased Assets Under Management (AUM), expanded Net Interest Margins (NIMs), controlled operating expenses, and reduced credit costs.
• AUM grew over 23%, NIMs expanded by 0.50 percentage points to 6.30%, and core net interest income rose 31% to ₹1,227 crore.
• The company aims to increase its return on AUM from 1.9% to 3% in the medium term, requiring further NIM expansion.
• Asset quality remained stable with assets unpaid for over 90 days at 0.8% by December-end.

Why It Matters: Piramal Finance's Q3 net profit soared to ₹401 crore, driven by strong AUM growth and improved margins.