Tata Investment Q2 net at Rs 82 cr, up 1 pct

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Tata Sons subsidiary Tata Investment Corporation on Monday announced a net profit of Rs 81.77 crore for the quarter ended September 30, a growth of 1.22 per cent from that in the corresponding period year-ago.

The company had a net profit of Rs 80.78 crore in the same quarter of FY'08, Tata Investment said in a filing to the Bombay Stock Exchange.

The total income of the company was marginally lower at Rs 89.20 crore in the quarter under review, compared to Rs 89.25 crore in the same quarter previous fiscal.

For the half year ended September 30, Tata Investment reported a net profit of Rs 124.68 crore, against a net profit of Rs 120.37 crore in the same quarter of the previous fiscal.

The income from operations rose to Rs 138.84 during the period crore from Rs 132.80 crore in the same period a year-ago.

Though the company realised reasonable profits on sale of shares during the six months up to September 30, it may be noted that the stock markets have declined even further since October 1, 2008.

Therefore, the above profit figures for the half year ended September 30 should not be viewed as representing the pro-rata results for the year to end on March 31, 2009.

Tata Sons now holds 54.98 per cent stake in Tata Investment.