Tata Investment Sees Revenue Rise, Profits Slip in Q2

4 Nov 2024 , 08:02 PM

Tata Investment Corporation reported Q2 results on October 31, 2024, with an 8.8% increase in revenue year-over-year. The company’s profit declined by 0.6% compared to the same quarter last year. Sequentially, revenue grew by 12.45% from the previous quarter, while profit dropped by 5.63%, hinting at challenges in controlling costs.

Selling, General & Administrative (SG&A) expenses rose sharply by 50.35% quarter-over-quarter, though they were down 8.73% year-over-year, potentially impacting profit margins.

Operating income improved, showing a 13.81% increase quarter-over-quarter and a 10.74% rise year-over-year, reflecting efficient management of core operations.

Earnings Per Share (EPS) for Q2 was ₹24.45, a slight 0.61% dip year-over-year, aligning with the modest profit decline and indicating a need for enhanced cost control.

At the time of closing on November 4, 2024, shares of Tata Investment Corporation closed at ₹6,664 which is a 3.23% dip than the previous close. Tata Investment Corporation shares has witnessed a 107% gain in the last one year, and 56% since the beginning of the year.