Tata sons' profits double in FY'11; net profit at Rs 3246 crore
Tata Sons - the main holding company of the salt-to-telecom conglomerate, the Tata Group - reported anet profit of Rs 3246 crore in 2010-11, double of what it reported 2009-10 when it earned a profit of Rs 1,621 crore according to sources familiar with the results. The company's reporting profit also shot up to Rs 4851 crore as against Rs 2970 crore.
Dividend income fromTata Consultancy Services (TCS) is the main reason for the rise in profit. 'TCS contributes over 70% revenues in the form of dividend to Tata Sons Ltd. So the increase in dividend was the main reason' said the source. A special dividend announced by TCS in 2009-10 also could be completed and was only transferred in 2010-11 to Tata Sons.
Tata Sons also holds equity stake in major Tata companies such asTata Steel,Tata Motors,Tata Power,Tata Chemicals,Tata Industries,Tata Teleservices,Tata Investment Corporation and Tata Petrodyne.
Satyakam Mishra
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Pallonji Mistry and even Cyrus maintain a very low profile . Now , the whole world's attention is on them . Pallonji Mistry is known as " Phantom of Bombay House ( Tata HQ ). Pallonji ( to the best of our knowledge has foreign nationality - Irish ).Mistrys were producers of the classic Hindi film " Mughal -e - Azam " . Their listed companies Forbes And Co. and Gokak Textiles should , now , deliver better returns for their non promoter share holders ( although the companies are doing well )
ReplyDeleteFor at least last two consecutive years Forbes And Co. in their Board of Directors has on Agenda for consideration " Dividend " thereby raising hopes among investors only to be told that no dividend.
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