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Tata Investment's quarterly profit falls 22% to ₹115.92 crore as income shrinks
The Tata group investment company said consolidated revenue fell about 21% in the September quarter, while its standalone profit slipped only 3%.
Key points
- Consolidated profit fell about 22% to ₹115.92 crore, from ₹148.16 crore.
- Consolidated revenue dropped to ₹122.30 crore from ₹153.98 crore.
- Standalone profit was ₹117.99 crore, down about 3%.
Tata Investment Corporation, the Tata group’s listed investment company, on Monday evening reported a profit fall of about 22% for the September quarter, as income from its holdings shrank.
Consolidated profit came to ₹115.92 crore, against ₹148.16 crore a year earlier. Consolidated revenue fell about 21% to ₹122.30 crore, from ₹153.98 crore. Earnings per share dropped to ₹2.29 from ₹2.93.
The parent company on its own fared better. Standalone profit slipped only about 3% to ₹117.99 crore, from ₹121.88 crore, on total income of ₹146.94 crore. Standalone earnings per share were ₹2.33, against ₹2.41.
Tata Investment, September quarter (₹ crore)
For the first half of the financial year, the company earned a standalone profit of ₹281.88 crore and a consolidated profit of ₹259.43 crore. Its standalone total assets stood at ₹34,575.99 crore on 30 September.
Tata Investment is registered with the Reserve Bank of India as a middle-layer non-banking finance company, which places it under closer regulatory watch than smaller lenders and investment firms.
The board approved the unaudited results on Monday, and the joint statutory auditors gave an unmodified review conclusion. Its shares will react to the numbers when trading resumes on Tuesday.