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Tata 'legacy hotspots' continue to pull down group's financial performance

These firms' finances are far from sustainable and they suffer from poor profitability and high debt

Krishna Kant & Dev Chatterjee  |  Mumbai 

There has been a marginal improvement in the financial performance of the “legacy hotspots”, the companies that Cyrus Mistry had mentioned after he was sacked as chairman of Tata Sons in October 2016.

However, these companies’ finances are far from being sustainable and they, except Indian Hotels, continue to suffer from poor profitability and high debt. In his letter to the directors of the Tata Sons board and Tata Trusts trustees soon after he was removed, Mistry had pointed out several “legacy hotspots” that were pulling down the group overall ...

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First Published: Mon, December 23 2019. 00:05 IST
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