Tata Sons' FY16 profit down 67 per cent, will take a relook at strategy says Ratan Tata
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Tata sons recently posted a 67% drop in profit in the year to March and a 39% fall in revenue on a standalone basis. A year ago though, Tata Sons' profit rose to Rs 23,119 crore from Rs 19,180 crore.
Tata Sons' standalone revenue or topline includes dividend from group companies and brand equity subscriptions. There's no difference between standalone revenue and consolidated. It's only the profit that is different. On a consolidated basis, Tata Sons' profit depends on the performance of 223 subsidiaries and 41 joint ventures and the yield on equity investments.
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Ratan Tata also asked the leadership of the companies to focus on profitability and not about the recent change in leadership.
"The interim chairman, Ratan Tata, has already exhorted leadership of the companies to focus on their respective businesses, without being concerned about change in leadership,” the spokesperson said.
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