Piramal Enterprises reported 10.57% rise in net profits for the Jun-20 quarter at Rs.496 crore. Total revenues from operations were down marginally by 6% at Rs.2937 crore for the quarter. The company managed to substantially improve its liquidity position during the quarter by strengthening its balance sheet. Carlyle was one of the big investors in PEL during the quarter to the tune of $490 million.

The financial services business made significant progress including their tech-enabled retail lending platform. The stress on the wholesale portfolio also reduced. Pharma revenues for the Jun-20 quarter stood at Rs.1038 crore. The overall loan book of the financial services business stood at Rs.51,265 crore.