TATA GROUP DOUBLES DIVIDEND AND GIVES CHAIRMAN CHANDRASEKHARAN A 20% RAISE — HERE'S WHY
Tata Sons chairman N Chandrasekaran’s salary saw a 20% jump in FY24, according to the annual report. The 61-year-old drew a salary of ₹135.32 crore, which included ₹121.5 crore as commission.
Tata Sons is the holding company of Tata Group recorded a 74% jump in consolidated net profit at Rs 49,000 crore in fiscal 2023-24.
The Tata Group's revenue for the year rose 25% from a year earlier to ₹43,893 crore, and the profit after tax increased 57% to ₹12,521.6 crore. The group had a debt of ₹20,642.47 crore and net cash of ₹2,679.19 crore at the end of March 2024.
The group's total market capitalisation increased 47% to ₹30.4 lakh crore, and the value of listed companies 35.7% to over ₹15.2 lakh crore.
The Tata Group has paid a dividend of ₹35,000, its highest ever, according to the annual report, and double that of the preceding year.
Losses from the aviation business, which includes Air India, Vistara, Air India Express and AIX Connect, more than halved to ₹6,337 crore in FY24, compared to ₹15,414 crore a year earlier.
Air India recorded its highest consolidated operating revenue at ₹51,365 crore, up 24.5% compared to the last financial year. Two years after privatisation, the airline's standalone loss narrowed to ₹4,444 crore in FY24, while the revenue rose 23% to ₹38,812 crore.