Tata Sons Reports 74% Surge In Net Profit, Chairman N Chandra's Salary Rises By 20% To…
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Tata Sons, the holding company of the Tata Group, reported a 74% increase in consolidated net profit, reaching ₹49,000 crore for FY24.

What Happened: The portion of profit attributable to shareholders of Tata Sons more than doubled to ₹34,625 crore from ₹16,847.79 crore in FY23. Consolidated revenue rose 14.64% to Rs 4.76 lakh crore.

The group declared its highest-ever dividend of ₹35,000 crore, compared to ₹17,500 crore in FY23. The cumulative market capitalization of the Tata Group companies surged 47% to ₹30.37 lakh crore by the end of FY24.

N Chandrasekaran, Chairman of Tata Sons, saw his salary increase by 20% to ₹135.32 crore, including ₹121.5 crore as commission. Chief Financial Officer Saurabh Agrawal received ₹30.35 crore in compensation.

The aviation business, including Air India, Vistara, Air India Express, and AIX Connect, reduced combined losses to ₹6,337 crore from ₹15,414 crore in FY23. Air India's operating revenue hit ₹51,365 crore, a 24.5% increase.

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Why It Matters: The significant rise in Tata Sons’ net profit and the substantial increase in Chairman N Chandrasekaran’s salary reflect the robust performance of the Tata Group in recent years.

Chandrasekaran’s salary has seen a remarkable increase from ₹37.63 lakh in 2004 when he was the executive vice president of Tata Consultancy Services, to ₹135.32 crore in FY24.

In comparison, Ratan Tata, who was the chairman of TCS in 2004, received a total salary of around ₹48 lakh back then.

Earlier in February, Tata Sons announced plans to inject around $1 billion (₹8,300 crore) into Tata Digital over the next few years, reflecting the group’s strategic focus on digital transformation.

This move comes as Tata Group halts external fundraising for its e-commerce venture, Tata Neu.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Tata Sons

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