Tata Investment Q2 net up 1% at Rs82 cr

Tata Investment Q2 net up 1% at Rs82 cr


Mumbai: Tata Sons subsidiary Tata Investment Corporation today announced a net profit of Rs81.77 crore for the quarter ended 30 September, a growth of 1.22% from that in the corresponding period year-ago.

The company had a net profit of Rs80.78 crore in the same quarter of FY’08, Tata Investment said in a filing to the Bombay Stock Exchange.

The total income of the company was marginally lower at 89.20 crore in the quarter under review, compared to 89.25 crore in the same quarter previous fiscal.

For the half year ended 30 September, Tata Investment reported a net profit of Rs124.68 crore, against a net profit of Rs120.37 crore in the same quarter of the previous fiscal.

The income from operations rose to Rs138.84 crore during the period from Rs132.80 crore in the same period a year-ago.

Though the company realised reasonable profits on sale of shares during the six months up to 30 September, it may be noted that the stock markets have declined even further since 1 October, 2008.

Therefore, the above profit figures for the half year ended 30 September should not be viewed as representing the pro-rata results for the year to end on 31 March, 2009.

Tata Sons now holds 54.98% stake in Tata Investment.

Shares of Tata Investments closed at Rs328.30, up 1.75% on the BSE.