Tata Investment Corp spurts ~3% as Profit soars 66% y-o-y in Q1FY23

27 Jul 2022 , 03:06 PM

Tata Investment Corporation logged a net profit of Rs89.74 crore in the quarter ended June 30, 2022, registering a growth of 66% yoy against Rs53.89 crore in the previous corresponding quarter.

Due to strong operating performance and a healthy topline, the company’s net profit increased by 343% QoQ from Rs20.23 crore in the previous quarter.

Total revenue from operations registered a growth of 64.5% on a yoy basis to Rs102.08 crore for the quarter ended June 2022, as compared to Rs61.98 crore in June 2021.

Total expenses increased to Rs11.17 crore in Q1FY23 from Rs5.93 crore in the previous fiscal’s April-June period.

As of 30 June 2022, promoters held 73.78% of the company, while FIIs and DIIs owned 1.33% and 0.45%, respectively.

At around 3.08 PM, Tata Investment was trading at Rs1,456 up by Rs42.05 or 2.97% from its previous closing of Rs1,413.95 on the BSE. The scrip hit intraday high and low of Rs1,539.85 and Rs1,450 respectively.