The holding company of the Tata group, Tata Sons stated 74 percent rise in consolidated net profit to ₹49,000 crore for FY24. The better performance can be attributed to increase in sectors such as IT, lending and airlines. Consolidated gross sales stood at ₹ 4,77,030 crore, an increase of 15% over the previous fiscal FY23 and total shareholder’s profit at ₹ 34,625 crore was more than double of ₹ 16,847. 79 crore in the same period.
Thebubble entrerealised ₹43,893 crore in FY24, a growth of ₹8,834. 53 crore or 25 per cent over the FY23 realised ₹35,058. 47 crore. The expense was reduced by 27% and post-tax profit was up by 57% and was at ₹ 34,653. 98 crore. Similarly Tata Sons also repaid major part of borrowings thus its net cash position at March 31, 2021 was ₹2,679. 19 crore.
Tata Sons’ direct and indirect holdings in listed companies surged 35. 7 per cent to ₹15. 2 lakh crore while the market capitalization of all the group firms collectively rose 47 per cent to ₹30. 36 lakh crore. The aviation sector reduced its loss to ₹6,337 crore; Tata Digital’s user base was 20. 76 Mn with merchandise value of ₹ 37,355 crore.
Tata Sons’ board suggests increasing a dividend to ₹35,000 crore, which is twice as much as the FY23. The pay of Chairman N Chandrasekaran hiked 19. 8% to ₹ 135. 3 crore and overall directors’ compensation was up 16%.
