Tata Investment Corporation (501301) Q4 98/99 earnings summary

Executive summary

• FY1998-99 total income was Rs. 28.32 crore and profit after tax was Rs. 22.68 crore, up from Rs. 20.06 crore; EPS was Rs. 18.24.

• Recommended dividend rose to Rs. 5.00 per ordinary share (50%), from Rs. 4.50 (45%) in FY1997-98.

Financial highlights

• Total income increased to Rs. 2,832.33 lakh from Rs. 2,716.28 lakh; total expenditure fell to Rs. 398.45 lakh from Rs. 563.98 lakh.

• PBT was Rs. 2,433.88 lakh vs. Rs. 2,152.30 lakh; PAT was Rs. 2,267.54 lakh vs. Rs. 2,005.98 lakh.

• Long-term investment diminution provision was Rs. 175.56 lakh, down from Rs. 280.67 lakh; FY1999 provision for tax was Rs. 166.34 lakh.

• Net dividends were Rs. 1,362.97 lakh; net interest was Rs. 105.66 lakh, compared with Rs. 20.53 lakh in the prior year.

Outlook and guidance

• Investments are classified as long-term and normally held for more than one year; future investments are also intended to be long-term unless specifically decided otherwise.