$PPLPHARMA

Piramal Finance reported a strong performance for the first quarter of FY27, with consolidated net profit rising 66.8% year-on-year to Rs 460.98 crore, compared with Rs 276.37 crore in the corresponding quarter last year. The growth was driven by a sharp increase in assets under management (AUM) and stable asset quality. The non-banking financial company (NBFC) posted total income of Rs 3,429.54 crore in Q1FY27, up from Rs 2,690.11 crore a year earlier. The company's newly launched gold loan business recorded disbursements of Rs 6 crore in June 2026, its first full month of operations. Chief Executive Officer and Managing Director Jairam Sridharan said the company plans to expand the segment cautiously over the coming quarters. Retail AUM grew 32% year-on-year to Rs 91,249 crore during the June quarter, while wholesale AUM increased 27% to Rs 13,238 crore. The wholesale-to-retail AUM mix stood at 85:15, compared with 80:20 in the same period last year. Piramal Finance also reported an improvement in its funding profile. The cost of borrowing declined to 8.80% in Q1FY27 from 9.13% a year earlier and 8.84% in the previous quarter. The cost of funds fell to 6.26%, down from 6.61% in Q1FY26. Asset quality remained healthy, with the gross non-performing asset (NPA) ratio improving to 2.4% as of June 30, 2026, compared with 2.8% a year ago. Separately, the company's board approved a proposal to raise up to Rs 4,000 crore through the issuance of equity or quasi-equity instruments to support future growth.