Tata Investment Corporation, a non-banking financial company, today said net profit rose 4.09 per cent to Rs 193.91 crore in the year ended March 31, 2010, over the corresponding period a year ago.
The company had posted a net profit of Rs 186.29 crore for the previous fiscal, Tata Investment Corporation said in a filing to the Bombay Stock Exchange (BSE).
Total income climbed to Rs 232.57 crore in the year under review from Rs 213.37 crore last year.
The net asset value of the company's equity shares was Rs 715 per share on March 31, 2010, after taking into account higher equity capital and the increase in tax rates, the Tata group firm said.
If the NAV was compared with the previous year on a like-to-like basis, the NAV would have been up to Rs 1,040 from Rs 515 on March 31, 2009, it said.
The board of directors, at its meeting held on January 20, 2010, had declared an interim dividend of Rs 15 per share for the year ended March 31, 2010. The directors have decided not to recommend any final dividend for 2009-2010.
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Equity share capital and securities premium account had increased by Rs 13.77 crore and Rs 433.96 crore, pursuant to the conversion of Parts A and B of the fully convertible bonds, on August 1, 2009, and March 31, 2010, respectively, it said.
The company is focused on long-term investments, such as equity shares and equity-related securities. The firm, along with Tata Sons, promotes the Tata Mutual Fund.
Shares of the company closed at Rs 501.15, down 1.73 per cent from the previous close on the BSE.