Piramal Enterprises experienced a significant increase in its Q2 profit, which tripled to Rs 163 crore, showcasing the company's strong financial performance despite a challenging credit environment.
The company acknowledged the potential risks associated with the credit landscape and expressed a cautious outlook for the future. The net interest margin of the company improved to 5.1 percent, compared to 4.7 percent in the same period last year.
This growth can be attributed to a strategic shift in the loan portfolio towards assets categorized as growth assets, demonstrating the company's proactive approach to enhancing profitability in a competitive market.