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News Topical, Digital Desk : Piramal Enterprises Limited (PEL) has invested Rs 700 crore in its wholly-owned subsidiary Piramal Finance Limited. This investment has been made through a rights issue. The company said in an exchange filing that Piramal Finance will use this amount for business needs and general corporate purposes. The company clarified that after this investment there is no change in its stake in Piramal Finance, as this investment has been made between a holding company and its wholly-owned subsidiary, hence it is kept out of the scope of related party transaction.
Piramal Finance's revenue from operations stood at ₹6,59,178 lakh, ₹6,66,356 lakh and ₹8,17,948 lakh in FY 2022-23, 2023-24 and 2024-25. This investment is part of the company's strategy to strengthen its financial strength and strengthen its associate institutions. Piramal Enterprises' profit fell 25 per cent to Rs 102 crore in the March quarter (Q4 FY25). In the same quarter last year, the company had reported a profit of Rs 137 crore. The company's income increased to ₹2,854 crore in the quarter from ₹2,473 crore in the same quarter last year. Stock performance On Friday, the company's stock closed 0.28 per cent lower at Rs 1,146.50. In the last one year, the company's stock has seen a gain of 25.18 percent.
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