Piramal Finance (PIRAMALFIN) Q2 24/25 earnings summary

Executive summary

• Unaudited standalone financial results for the quarter and half year ended September 30, 2024, were approved by the Board on October 23, 2024.

• Appointment of Ms. Urmila Rao as Company Secretary & Compliance Officer was confirmed.

Financial highlights

• Total income for Q2 FY25 was ₹183,753 lakhs, up from ₹166,310 lakhs in Q1 FY25 and ₹173,782 lakhs in Q2 FY24.

• Net profit after tax for Q2 FY25 was ₹4,660 lakhs, compared to ₹3,655 lakhs in Q1 FY25 and ₹5,127 lakhs in Q2 FY24.

• Earnings per share (basic and diluted) for Q2 FY25 stood at ₹0.02, unchanged from Q1 FY25 and Q2 FY24.

• Total comprehensive income for Q2 FY25 was ₹7,121 lakhs, up from ₹5,040 lakhs in Q2 FY24.

Outlook and guidance

• The company is transitioning from a Housing Finance Company (HFC) to a Non-Banking Finance Company – Investment and Credit Company (NBFC-ICC) due to not meeting the Principal Business Criteria for HFCs.

• Application for conversion was submitted to RBI in May 2024; compliance with HFC regulations continues until new certification is received.