Promoted by Tata Sons, Tata Investment Corporation Limited (TICL) is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI). Earlier named The Investment Corporation of India, the company is primarily involved in investing in long-term investments such as equity shares and equity-related securities. Tata Sons is the principal investment holding company and promoter of Tata companies. The Tata Group stock is up over 92% in a year's period, and has gained 74% in 2022 (YTD) so far.
The company’s activities comprises primarily of investing in long term investments in equity shares, debt instruments, listed and unlisted, and equity related securities of companies in a wide range of industries. The major sources of income of the company consist of dividend, interest and profit on sale of investments.
For the first quarter ended June 2022 or Q1 FY23, Tata Investment Corporation reported a 66.5% increase in consolidated net profit at ₹89.7 crore, driven by higher dividend income. The company had posted a consolidated profit after tax of ₹59.8 crore in the same quarter of the previous fiscal.
Its total revenue from operations during the quarter under review stood at ₹102 crore as compared to ₹62 crore in the year-ago period. The company's dividend income stood at ₹74 crore as against ₹41 crore in the corresponding period a year ago. The company, which is engaged in investment activities, said its total expenses in the first quarter stood at ₹11 crore as compared to ₹6 crore in the same period last fiscal.
