Piramal Finance Ltd shares hit a day high of Rs 1,970.20 on 19 October, then closed flat ahead of a 67% jump in Q2 profit to Rs 545 crore.

The numbers came after trading ended. In a press release filed at about 3:56 pm, the non-banking lender said profit after tax for the July to September quarter stood at Rs 545 crore, compared with Rs 327 crore a year earlier.

That is a rise of 67%. Compared with the April to June quarter, when it earned Rs 461 crore, profit grew 18%.

Net interest income, the gap between what the company earns on loans and what it pays to borrow, rose 35% to Rs 1,530 crore from Rs 1,132 crore a year ago.

Revenue from operations came in at Rs 3,659 crore, up 27%. The total loans it manages, known as assets under management, grew 24% over the year to Rs 1.13 lakh crore.

The Mumbai-based lender runs 838 branches across the country.

Loans that have gone bad, measured as gross non-performing assets, made up 2.4% of the book, down from 2.6% a year earlier.

The company also completed a Rs 3,850 crore capital raise, made up of a Rs 2,100 crore share sale to institutional investors, known as a QIP, and Rs 1,750 crore from a preferential allotment of warrants.

Piramal Finance also named Dinesh Kumar Khara, a former chairman of State Bank of India, as an independent director for five years, effective 19 October.

At the close on NSE, shares ended at Rs 1,948.70, down by 0.08% from the previous close of Rs 1,950.30, in a session where the Nifty 50 fell 1.11%.

The stock dropped 15.22% in a month but gained 18.54% YTD, touching a 52-week peak of Rs 2,326.40 on September 9.

Unlock profitable opportunities every day! Tradz by EquityPandit provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Tradz by EquityPandit and start winning now!