Tata Investment Corp Q4 net loss widens to Rs 37 cr

Tata Investment Corporation reported consolidated net loss of Rs 36.75 crore in Q4 March 2020, higher than net loss of Rs 6.02 crore in Q4 March 2019.

Total income dropped 17.2% to Rs 21.41 crore in Q4 March 2020 over Rs 25.87 crore in Q4 March 2019. Pre-tax loss stood at Rs 36.62 crore in Q4 March 2020 as against pre-tax loss of Rs 4.42 crore in Q4 March 2019. Current tax expenses jumped 55.7% to Rs 2.71 crore in Q4 March 2020 as against Rs 1.74 crore in Q4 March 2019. The result was announced after market hours yesterday, 27 May 2020.

The board recommended a dividend of Rs 18 per ordinary share of Rs 10 each, which shall be paid after the Annual General Meeting (AGM), subject to approval of the shareholders at the AGM.

Tata Investment Corporation, a non-banking financial company, is primarily involved in investing in long-term investments such as equity shares and equity-related securities.

Shares of Tata Investment Corporation advanced 1.56% to Rs 711.50 on BSE. The stock hovered in the range of Rs 693.40 to Rs 711.50 so far.

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