Tata Investment Corp slides after Q3 PAT drops 13% YoY

Tata Investment Corporation slipped 3.73% to Rs 2,227.10 after the company's consolidated net profit declined 13.2% to Rs 34.53 crore as against Rs 39.80 crore posted in Q3 FY22.

Total income stood at Rs 37.69 crore in Q3 FY23 from Rs 50.97 crore reported in the same period last year, registering a decline of 26.05%.

Consolidated profite before tax tumbled 22.7% to Rs 39.17 crore in Q3 FY23 as against Rs 50.68 crore recorded in the corresponding quarter previous year.

Total expenses surged 57.24% year on year to Rs 9.45 crore in quarter ended 31 December 2022.

Tata Investment Corporation is a non-banking financial company, engaged in investing in long term investments in equity shares, debt instruments, listed and unlisted, and equity related securities of companies in a wide range of industries. The major sources of income of the company consist of dividend, interest and profit on sale of investments.

Powered by Capital Market - Live News