The Tata group's unlisted financial services and insurance businesses have seen hefty profits during financial year 2023-24 (FY24).
Tata Capital, the group's financial services business, has reported net profit of ₹2,492 crore on revenues of ₹13,309 crore, according to Tata Sons' annual report for FY24.
The two insurance joint ventures, Tata AIA General Insurance reported net profit of ₹685 crore and Tata AIA Life Insurance saw ₹1,313.84-crore net profit.
Tata Sons directly owns 74 per cent stake in the general insurance company and 51 per cent in the life insurance firm.
The general insurance firm reported turnover of ₹15,422.56 crore while the life insurance JV saw ₹25,691 crore turnover for FY24. The group is currently toying with the idea to list Tata Capital.
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