TATAINVEST · Financial Services
Tata Investment Corporation Ltd. reported total income of ₹16.0 cr for January to March 2025, −71.9% on the year and +300.0% on the quarter. Over the last four quarters income comes to ₹304 cr, −20.8% on the four before.
Net profit was ₹38.0 cr, −36.7% on the year and +90.0% on the quarter, with earnings per share of ₹0.75. The tax rate was −5% against an average of 12% over the previous 6 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹313 cr, −18.7% on the four before.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
A tax credit added to profit this quarter. Deferred tax recognised, or a reversal?
Profit before tax ₹36.0 cr; tax −₹1.8 cr, a credit.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders), Net interest income against profit (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹124 cr | ₹51.0 cr | ₹57.0 cr | ₹142 cr | ₹142 cr | ₹4.0 cr | ₹16.0 cr | ₹145 cr | ₹154 cr | ₹58.0 cr | ₹40.0 cr | ₹152 cr |
| YoY | — | — | — | −7% | +15% | −92% | −72% | +2% | +8% | +1,350% | +150% | +5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | −1% | 11% | 16% | 16% | 21% | 5% | −5% | 13% | 12% | 7% | −10% | 21% |
| Net profit | ₹124 cr | ₹53.0 cr | ₹60.0 cr | ₹131 cr | ₹124 cr | ₹20.0 cr | ₹38.0 cr | ₹146 cr | ₹148 cr | ₹75.0 cr | ₹64.0 cr | ₹144 cr |
| YoY | — | — | — | −11% | 0% | −62% | −37% | +11% | +19% | +275% | +68% | −1% |
| EPS | ₹2.46 | ₹1.05 | ₹1.20 | ₹2.59 | ₹2.44 | ₹0.39 | ₹0.75 | ₹2.89 | ₹2.93 | ₹1.49 | ₹1.26 | ₹2.84 |
| Flags | 1 | · | 1 | ✓ | ✓ | 3 | 3 | ✓ | ✓ | ✓ | 2 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tata Investment Corporation Ltd. reported total income of ₹16.0 cr (−71.9% on the year) and net profit of ₹38.0 cr (−36.7% on the year) for January to March 2025.
1 check raised a question: A tax credit added to profit this quarter. Deferred tax recognised, or a reversal?
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