Why This Tata Stock Is Surging 3% Today

Shares of Tata Investment Corporation continued to make gains for the third straight session on Monday as the company posted its results for the quarter ended June.

What Happened: The Tata Group company’s consolidated profits for the June quarter surged by over 63.23% to ₹146.8 crore compared to the ₹89.9 crore profit it reported in the same quarter last year. The company’s revenue from operations went up to ₹151.6 crore, up close to 50% from the ₹101.97 crore reported during the same quarter last year.

A chunk of the company’s revenue was from dividend income stood at ₹87.10 crore. The company’s EBITDA for the quarter stood at ₹142.9 crore, with a margin of ₹94.29%. Earnings per share for the quarter stood at ₹29.02.

Price Action: Tata Investment’s share price was up 2.68%% to trade at ₹2,570 as the markets opened on Monday.

Read Next: This Small Cap Stock Is Surging After Q1: Analyst Sees It Going Up 30%

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Posted In: EarningsNewsTata GroupTata Investments