Piramal Finance Limited reported a 67% year-on-year jump in first-quarter profit after tax, reaching ₹461 crore for the period ended June 30.
The lender’s board has simultaneously cleared a ₹4,000 crore fundraise, signaling confidence in future growth opportunities despite the current high valuation.
Shares have gained over 33% year-to-date, reflecting sustained investor interest in the non-banking financial company’s turnaround and expansion strategy.
The stock closed at ₹2,186.50 on the National Stock Exchange on Thursday, up 0.76% on the day.
The positive sentiment pushed the company’s market capitalization to approximately ₹49,620 crore.
Shares have gained over 33% year-to-date, reflecting sustained investor interest in the non-banking financial company’s turnaround and expansion strategy.
The fundraise is expected to support the company’s asset growth and liquidity needs.