The Piramal Finance scrip closed 0.08 per cent down at 1,948.05 apiece on the BSE on Monday
Non-bank lender Piramal Finance on Monday reported a 67 per cent jump in net profit to ₹545 crore for the September quarter, helped by core income growth and improvements in costs.
The company's core net interest income grew 35 per cent to ₹1,530 crore due to a 24 per cent growth in assets under management and a 0.35 per cent expansion in net income margin to 6.5 per cent.
The cost-to-income ratio improved sharply to 52.1 per cent during the reporting quarter from 61.2 per cent, helping the bottom line.
Stressing that the company is uniquely positioned in the NBFC universe, as it does not see a threat to margins amid the rising interest rate environment, its Managing Director and Chief Executive Jairam Sridharan exuded confidence that it will be able to expand NIMs by up to 0.20 per cent over the next year.