Tata Capital posts 51% Q2 profit rise to ₹1,660cr
Business
Tata Capital just posted a 51% jump in Q2 profit, hitting ₹1,660 crore.
This boost came from a healthy increase in net interest income and a decline in loan loss provisions.
Fee income also saw a steady rise.
Tata Capital loans cross ₹3Lcr
The company's total loans grew 26% year over year to over ₹3 lakh crore, a big milestone highlighted by MD and CEO Rajiv Sabharwal as the result of diversification and resilience.
While retail and motor loans dipped as a share, SME and corporate lending picked up.
Asset quality got better too, with loan loss provisions declining 16.6% to ₹645 crore and Tata Capital's growth plans.