Millennium Post
Business

Re fall pushes Tatas out of $100-billion club

Salt-to-software conglomerate Tata Group's combined turnover has slipped below $100 billion due to rupee depreciation , despite an over 10 per cent growth in total revenue when measured in Indian currency.

The Tatas have, however, emerged as the country's first business house to record an annual turnover of more than Rs 5 lakh crore in rupee terms, while its headcount rose by nearly 88,000 persons to over 5.4 lakh employees in 2012-13.
The group, with over 100 operating companies, saw its total revenue rise by 10.8 per cent to Rs. 5,27,047 crore last fiscal year, from Rs. 4,75,721 crore in previous year.

However, a fall of over 14 per cent in rupee value against dollar during fiscal year 2012-13 resulted into the Tata Group recording a fall of over 3 per cent in its dollar revenue during the year.

In dollar terms, Tatas' total revenue stood at $96.79 billion in 2012-13, down 3.3 per cent from $100.09 billion in the previous year, according to latest financial information published by the group.

Last year, the group had become the country's first and only business house to cross the turnover of $100 billion.

The group has used an exchange rate of Rs. 54.45 for one US dollar for 2012-13, and that of Rs. 47.53 for previous year.The revenue figures for group companies are consolidated and net of excise duty, wherever applicable.

While the group has not disclosed its total profits for FY13 so far, its profit after tax had slipped by 9.4 per cent to $5.23 billion in 2011-12.
The revenue in the fiscal 2011-12 had risen by about 20 per cent from $83.3 billion in the year 2010-11.In rupee terms, the revenue growth was higher at 25.3 per cent in 2011-12 and fall in profit was lower at 4.5 per cent.

The group's international revenue continues to account for more than half of total worldwide turnover and rose by 2.7 per cent to $60.7 billion in 2012-13.Besides, its net forex earnings almost doubled to $3.05 billion in 2012-13, from $1.59 billion in the preceding fiscal year.
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