Piramal Enterprises Ltd, which was formerly known as Piramal Healthcare, has suffered a consolidated net loss of Rs 92.02 crore in the three months ended September 30, 2012, mainly because of increase in finance costs.

In the corresponding three months of 2011, Piramal had reported a net profit of Rs 52.43 crore.

However, consolidated net sales of the company jumped from Rs 477.58 crore in the second quarter of fiscal year of 2011-12 to Rs 828.58 crore in the second quarter of current fiscal.

Other income dropped steeply from Rs 102.6 crore to settle at Rs 28.8 crore over the same period.

Finance costs jumped to Rs 122.23 crore in the past quarter, from Rs 19.63 crore in the corresponding quarter of previous fiscal.

The loss that the company suffered in the second quarter stemmed from a blend of research-related spending of Rs 54 crore, interest payment of Rs 122 crore and lower FOREX gain of Rs 28 crore.

The company also announced that its board approved the scheme of amalgamation between PHL Holdings Private Ltd and Piramal Enterprises Ltd to streamline the owner-family's holding structure in the company.

Stock in Piramal Enterprises shed 0.74 per cent to close at Rs 489.15 a share on the Bombay Stock Exchange (BSE).