Tata Finance net loss at Rs 9.76 crore in Q1
By Our Banking Bureau | 01 Aug 2002
Mumbai: Tata Finance has registered a net loss of Rs 9.76 crore for the first quarter ended 30 June 2002. The company has changed its accounting year from July-June to April-March. Consequently, the quarter April-June 2001 was the last quarter of the earlier financial year ended on 30 June 2001.
The total income of the company stood at Rs 94.40 crore while interest was at Rs 89.5 crore. The other income was at Rs 4.90 crore, and is inclusive of Rs 2.5 crore towards reversal of provision made for expenses the earlier years, as the same was no longer required, said the company in a notification to the Bombay Stock Exchange.
The interest cost was at Rs 71.75 crore, and the depreciation was at Rs 16.18 crore.
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