Sep 29, 2000|
Other income drives Tata Finance' FY00 profits
Tata Finance has recorded 32% growth in net profits to Rs 568 m on the interest income of Rs 5.1 bn for the year ended June 2000. Due to more than proportionate increase in the interest expenditure, the company's operating margins declined to 27.5% in FY00 (29.2% in FY99).
|Operating Profit (EBDIT)
|Operating Profit Margin (%)
|Profit before Tax
|Provision & Contingencies
|Profit after Tax/(Loss)
|Net profit margin (%)
|No. of Shares (eoy) (m)
|Diluted number of shares
|Diluted Earnings per share
During the year Tata Finance has signed a joint venture agreement with American Express International to enter into the business of full fledged money changing and allied services. The company has also signed joint venture agreement with TD Waterhouse Inc. one of the leading online and direct broking houses. It has entered into housing finance business through its subsidiary company Tata Homefinance.
At the current market price of Rs 69, Tata Finance is trading at PER of 6 times its FY00 earnings.
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