Tata Investment Corporation Ltd witnesses a remarkable surge as its shares soar by 20 percent, reaching a record high of Rs 5,794 on the NSE. This surge follows the company’s robust financial performance in the quarter ended December 2023, where it reported a substantial 53 percent year-on-year rise in consolidated net profit (PAT), amounting to Rs 53.2 crore.
The company’s impressive financials extend to its revenue from operations, which experienced a significant climb of 36.87 percent year-on-year, reaching Rs 51.6 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) demonstrated a robust growth of 40 percent year-on-year, standing at Rs 44.2 crore in Q3.
As of 12:45 pm, Tata Investment shares continue their upward trajectory, trading at Rs 5,794.00 on the NSE, propelling the market cap past Rs 29,300 crore. Notable improvements are seen in Tata Investment Corp’s EBITDA margins, which surged to 87.36 percent from 83.91 percent a year ago. The earnings per share (EPS) also witnessed a positive climb, reaching Rs 10.5 in Q3 FY24.
In addition to the impressive PAT, the holding company realized profits of Rs 64.65 crore from the sale of equity investments, credited to retained earnings in the balance sheet.
