Piramal Finance Q3 Net Profit Surges 928% to Rs 401 Crore

• Piramal Finance reported a net profit of Rs 401 crore in Q3, a significant increase from Rs 39 crore in the year-ago period.
• Managing Director Jairam Sridharan attributed the growth to increased assets under management (AUM), expanded net interest margins (NIMs), controlled operating expenses, and lower credit costs.
• AUM grew over 23%, NIMs expanded by 0.50% to 6.30%, and core net interest income rose 31% to Rs 1,227 crore.
• The company aims to increase its return on AUM from 1.9% to 3% in the medium term, requiring a further 0.30% NIM expansion.
• Asset quality remained stable, with assets unpaid for over 90 days holding steady at 0.8% as of December-end.

Why It Matters: Piramal Finance achieved a remarkable 928% surge in Q3 net profit due to strategic financial management.