Tata group profits grew 35% under me, Mistry to NCLT

Mistry was responding to charges made by the Tatas that group was underperforming during his tenure

Ousted Tata Sons Chairman Cyrus Mistry has said the group's profits grew 35 per cent, compounded annually, during his tenure as chief even as the valuation of Tata Sons' portfolio companies beat the BSE index by five per cent.

In his reply to the National Company Law Tribunal (NCLT), Mistry said the market value of group firms increased by Rs 3,26,000 crore between 2013 and October 2016 despite tough economic conditions and legacy issues due to “wrong acquisitions” during Ratan Tata’s tenure as chairman. 

Mistry was responding to charges made by the Tatas that the group was underperforming during Mistry’s tenure.

NCLT had