Mumbai, India — Tata Investment Corporation Ltd. has reported a significant boost in its financial performance for the March quarter, with net profit climbing by 69.22% year-on-year. The company's net profit reached Rs 63.83 crore, a substantial rise from Rs 37.72 crore recorded in the same period last year.
The investment holding firm for the Tata Group also saw its revenue from operations more than double, surging by an impressive 143.33% year-on-year. Revenue stood at Rs 39.98 crore for the quarter, compared to Rs 16.43 crore in the previous year. This robust growth was supported by dividend income of Rs 25.54 crore and interest income of Rs 9.88 crore during the period.
Board Recommends Dividend
In addition to the strong earnings, the Board of Directors has recommended a dividend of Rs 3.4 per share. This represents a 340% dividend on a face value of Re 1 per share. The dividend payout is subject to the approval of shareholders at the upcoming Annual General Meeting.
"The Board of Directors have recommended a dividend of Rs 3.40/- (340 per cent) per Ordinary share of Re 1/- each, which shall be paid after the Annual General Meeting, subject to approval of the Shareholders of the Company at the ensuing Annual General Meeting," the company stated.
Financial Overview and Stock Performance
Total income for the quarter increased to Rs 42.16 crore from Rs 16.61 crore a year earlier, while other income also grew to Rs 2.18 crore from Rs 0.18 crore. Total expenses for the corresponding quarter increased to Rs 11.69 crore from Rs 10.02 crore.
On Tuesday, Tata Investment shares closed 1.24% higher at Rs 722.15. The stock has shown strong momentum, gaining 26.45% over the past month. Technically, the shares are trading above their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), indicating a positive trend. The 14-day Relative Strength Index (RSI) was at 48.30, suggesting the stock is neither overbought nor oversold.
Tata Sons holds a significant 68.51% stake in Tata Investment, underscoring its role as a key investment vehicle within the broader Tata conglomerate.