Indian non-bank lender Piramal Enterprises suffered a loss of INR196 crore ($28m), up from INR42 crore in the same period last year, as the value of its investment in Shriram Group dipped. The drop was offset by a 49% growth in retail assets, though core net interest income fell to INR1,128 crore, down 4% from INR1,172 crore a year ago. CEO Jairam Sridharan said the lender would aim to continue boosting its retail loan business with the goal of having two-thirds of the company's loan book come from that arm.
