Tata Group Achieves Record Profit of Rs 85,510 Crore in FY24
As per reports the Tata Group, renowned as one of India’s oldest and most esteemed business conglomerates, has reported a historic profit after tax (PAT) of Rs 85,510 crore in the fiscal year 2023-24, according to data available from ACE Equity. With 25 listed companies spanning diverse sectors such as IT, steel, power, hospitality, and automobile, the group has displayed a remarkable performance.
The group’s consolidated revenue, amounting to over Rs 11 lakh crore in FY24, reflects a significant surge over the past five years. Tata Motors emerges as the largest contributor to gross sales, with revenue totaling Rs 4.35 lakh crore, followed by Tata Consultancy Services (Rs 2.41 lakh crore), Tata Steel (Rs 2.27 lakh crore), Tata Power Company (Rs 61,449 crore), and Titan Company (Rs 46,751 crore).
Among the most profitable companies within the group, Tata Consultancy Services leads the pack with a PAT of Rs 46,099 crore in FY24. This is followed by Tata Motors, which recorded a PAT of Rs 31,107 crore, and Titan Company with Rs 3,495 crore in profit. Notably, 21 Tata companies posted profits in FY24.
The group has witnessed remarkable profitability growth, with 16 companies experiencing up to 1,200% profit growth. Tata Motors leads in this aspect, with a staggering 1,222% increase in PAT, followed by Tata Power Company, Trent, and Automotive Stampings and Assemblies.
Over the last five years, the Tata Group’s total profit from its 25 listed firms has surged by 351%, from Rs 18,976 crore in FY19 to Rs 85,510 crore in FY24. Similarly, revenues have seen a substantial increase, rising by 56% to Rs 11.12 lakh crore in FY24 from Rs 7.16 lakh crore in FY19.
Despite economic challenges and market fluctuations, the Tata Group’s consistent growth trajectory underscores its resilience and strategic vision, positioning it as a formidable player in India’s corporate landscape.
This article provides a comprehensive overview of the Tata Group’s exceptional financial performance in FY24, highlighting its record profit, revenue surge, and the most profitable companies within the conglomerate.
