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Tata Sons reports a 74% increase in consolidated net profit to Rs 49,000 crore in FY24.
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The company’s aviation business, including Air India, narrows losses to Rs 6,337 crore compared to Rs 15,414 crore in FY23.
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Tata Sons declares a dividend of Rs 35,000, double the amount paid in FY23, involving a cash outflow of Rs 1,415 crore.
Tata Sons, the holding company of the Tata group, has reported a significant increase in its consolidated net profit for FY24. The company’s net profit surged by 74% to Rs 49,000 crore, driven by improvements in sectors like information technology, financial lending, and airlines.
The company’s aviation business, which includes Air India, Air India Express, Tata SIA Airlines (Vistara), and AIX Connect (formerly AirAsia India), narrowed its losses to Rs 6,337 crore compared to Rs 15,414 crore in FY23. Air India recorded its highest consolidated operating revenue at Rs 51,365 crore, powered by growth in capacity.
Tata Sons has also declared a dividend of Rs 35,000, double the amount paid in FY23, involving a cash outflow of Rs 1,415 crore. The company’s remuneration for Chairman N Chandrasekaran increased by 19.8% to Rs 135.3 crore in 2023-24.
